The reasons: 1. Low-risk entry point 2. Prior strong upside move 3. Very clear and crisp pivot point 4. One of the leaders in the current market 5. Stock explodes >100% while the market only goes up 6% 6. High relative strength
Flaw: 1. Hard-penny environment 2. Bad close, stock squats after the breakout
I like to see the stock holds up well and perhaps pivot resets.