higherhigh_

IIVI. Possible continuation.

Long
NASDAQ:IIVI   II-VI Incorporated
Stocks was in consolidation about 2+ years, after breaking out of 2 years resistence the price was retest it and than go up.
On weekly and daily charts looks like bull flag was forming and broken out.
On weekly there are two high demand bar (highlighted) and new week opening with gap up on volume increasing.
The price on strong volume bouncing twice from resistance which are 61.8 fib and 200MA and brake out upper flag line with volume .
Possible bullish scenarios 1) continue upward move, 2) small pullback to 20 MA's area and forming some kind of handle of C&H.
Not a recommendation, just an observation.


Comment: Correct picture with weekly and daily is below.