Could be a breakout that was breaking above resistance around the $40.60 area. Not really liking how it never had any meaningful tightening like it did earlier around May / July of this year. As usual trend is up so we attempt to go along with it. We'll leave it to probability and let it sort itself out in the end.
Risk managed by a stop-loss order & position sizing equal to 0.5% of the buying power allocated to swing trades. Depending on price action will manage profits by using the 10 ema or 20 ema (will update as time passes).