MOD broke out of its 3 weeks consolidated range, trading beyond its $13 major resistance level with a pre-market open runaway gap pattern. It closed this morning at $13.47, representing a intraday gain of +6.40%, a similar breakout was also witnessed in AMBA that was alerted yesterday.
MOD first sign of bullish trend resumption was signaled with a Bullish Reversal Hammer candlestick pattern on 20th November 2020, with a further continuation breakout on a week's of consolidated price action on 15th December 2020. The cumulative % gain in this short term rally stance at +23.14%.
As MOD is currently trading at its 52 weeks high, it is still a distant away from it's all time high (triple peak) established at $36 (180% away) in 1995-2005 period. The first major resistance to watch is at $17.