AXS Log Chart Breakout: Real or fake???

Breaking this channel is kind of a big deal for AXS since it would be the last thing in the way of it reaching price discovery and going who knows how high. But often these breakouts are fake so we have to be careful of a head-fake.

Scenarios:

Daily closes above the trendline - breakout confirmed, buy

Daily closes below the trendline - breakout was fake, maybe a good time to short or take profits

Comment:

Make sure to comment your thoughts: is this a real breakout or not?