Aurinia $AUPH has been consolidating in a triangle since the year started. This consolidation is within the context of a larger bearish correction from just above $10.50 a share back in March 2017. AUPH Daily Chart(click to enlarge)Triangle Breakout:- The daily chart shows price broke out of the 2018 triangle during the 5/14 session.- Before that price has been consolidating under the 200-day simple moving average (SMA). This was a bearish sign.- However, the RSI tagged 70 and then was able to hold above 40. - This means, there was some initial bullish momentum that AUPH was maintaining even though the overall picture was bearish.- That changed during the 5/14 session. It is now showing bullish signs both with respect to the moving averages and with the RSI.- I think this breakout opens up at least $7.50. For now, we should limit the bullish outlook to the $8.00 area. - Also, we should probably look for a pullback first. I think if price break below $5.50, the bullish outlook should be scrapped.- So, we should probably wait for price to pull back closer to $5.50 i.e. $5.80. That way, the risk is lower. BUT, you just risk price not retreating to this level if the market is indeed bullish.