Last we, we saw shares of Rignet Inc. $RNET trade higher and break above some key resistance factors. This was an early signal of a shift to a bullish mode. This week, we are seeing the market confirm this breakout.Rignet Inc. (RNET) Developing a Potential Bullish Swing Within a RangeRNET Daily Chart(click to enlarge)Confirmation:- By "confirming" the breakout, I meant that after price pulled back, the market held RNET above $15, and above the 200-day simple moving average (SMA). You see, it wasn't just a breakout above a falling trendline, it was also a crossover above the 200-day SMA that signaled that a bullish swing is on its way.- Now, we might still see some choppiness before price moves higher, but so far, price action suggests bulls are back in control, at least in the short-term and within the context of a larger sideways action.Subtle Bullish Signs:- On the weekly chart, we can see that the market has been in consolidation since falling from around $57 in 2014 to below $11 in 2018. This consolidation could be "accumulation", which could then lead to a rally. - We can see that the volume had dried up in the consolidation, but started to percolate in the second half of 2018 when price made a sharp rally.- Price retreated from this rally, but in a choppy manner. - Also, the RSI was able to push above 70, and then hold above 40, another sign that bullish momentum is building. - These are signs that this consolidation is indeed a period of accumulation instead of a pause before further downside. - Because of these subtle signs, I have confidence of upside towards the $23-$24 area as well as the prospect of breaking higher towards $30. - This is going to be a position trade that might take a while, but the maximum upside of nearly 100% from $15 is worth it in my opinion. Currently, I have half my normal size position in RNET. I don't have a full position because I was anticipating a deeper pullback. I also want to keep dry powder at hand in the current market environment, which is tentatively bullish and vulnerable to another October-like contraction.RNET Weekly Chart(click to enlarge)