Earlier in July, we saw iRobot move on the back of a positive earnings event and break out above a consolidation pattern. Then, after a pullback, we saw price confirm the bullish breakout, strengthening the bullish continuation outlook. Now, we are looking a very persistent rally over the past couple of weeks, as price per share moved above $100 this week, and has the 2017-high just under $110 in sight. IRBT Daily Chart(click to enlarge)Bulls Took Over:- As we can see on the daily chart, price was starting to hold above the moving averages even ahead of the earnings event.- The RSI pushed above 70 and was holding above 40. - So we had a market that was already percolating. With more fuel from a positive earnings surprise the market shifted to the bullish trend after a year-long consolidation/correction.- While we might see some resistance around the 110 area, we should note from the weekly chart that the overall trend is bullish.- The weekly chart also shows the significance of the prevailing consolidation/correction period, and how price remained in bullish mode throughout the period (price was above the key moving averages, and the weekly RSI held above 40 for the most part). - These are signs that the market likes IRBT and will likely take it above $110 even if we see some selling there at first. - If there is a pullback, we should anticipate support around $90. A bullish market should provide support in the $80-$90 area, but I think if the market has strong bullish momentum, it would not let price drop back to $80 and more likely support IRBT to hold above $90. IRBT Weekly Chart(click to enlarge)