At the start of July, we saw GMS Inc. $GMC breakout of a diamond pattern, signaling a bullish reversal.GMS Inc. $GMS in a Bullish Breakout from a Diamond Pattern While Q4 Earnings DisappointGMS Daily Chart(click to enlarge)Bullish Breakout and Pullback:- As we can see on the daily chart, price extended higher to $23 after breaking the diamond pattern. - This rally made a new high on the year and officially completed a price bottom.- If price pulls back, the $20-$21 area would be the first potential area for support. - I wouldn't like to see price pull back under $19, but only a break below $17 would convince me that bears are back in control.- Also, the RSI should hold above 40 in the bullish outlook, so if it approaches 40, we should anticipate support.- A hold above $20 would maintain the bullish outlook to the $26-$28 area - a bullish reversal scenario.I am preparing dry buy around $21 and $19. GMS Weekly Chart(click to enlarge)