Papa Johns International $PZZA has shifted from a bearish trend in 2018 to a sideways one by the turn of the year. The daily chart below shows how price rallied sharply in Q4 from a low around $38 to a high around $60 before turning the calendar. In 2019, price revisited the low around $38, but has rebounded again, showing resilience at this price point. Price action has flattened. PZZA Daily Chart(click to enlarge) Range:- The range is essentially between $38 and $60. - We saw price bounce off of $38 in January, twice. - There a 2-month long price bottom with a neckline at $46. - After breaking above $46, price came up to almost $54 before retreating.- Last week, price found support around $48, which showed respect to the cluster of moving averages.- Also, the bounce created a bullish engulfing candle.- Meanwhile, the RSI held above 40 after it was above 70 recently.- These are all signs that the market is still bullish in the short-term.- This short-term bullish outlook will be limited by the medium-term sideways market, which has resistance at $60.- Still I think PZZA still has a potential 20% gain from the past week's close of $49.26.- A break below $45-$46 would likely invalidate this bullish outlook and put pressure back to $40, $38 area.