Since the major drop that we saw last week, FTM has been steadily increasing in value. Yesterday's China news added fuel to the current move, and eventually lead to this break out.
As of this morning the upper trend line of the channel has been re-tested and caused a significant bounce, confirmation that the break out is legit.
Short-term target at $1.48, mid term target at $1.68. Both targets placed at recent local highs.