As the top chart clearly shows, this one recently broke out of a sideways consolidation pattern on it's Weekly chart, only to pull back to the breakout zone.
Secondly, as the bottom chart illustrates, this area corresponds with a test of it's 50 Day MA.
Here at the Stealthy Trader, all we try and do is identify and act upon above average risk/reward scenarios.
We consider this opportunity to fall squarely in that category.
As with just about any bullish trade, the only possible fly in the ointment is a collapsing overall market..which even then, should allow for us to exit with sustaining only minmal losses.