Rowan Companies $RDC has been a multi-year consolidation. The weekly chart below shows how price was bearish entering 2016, but has since shifted into a sideways consolidation mode, even though we did see a lower low briefly in mid-2017. RDC Weekly Chart(click to enlarge)Triangle:- A s we an see on the weekly chart, price action started to coil a bit after the bearish drive in 2017. - Still price has traded under the 200-week simple moving average (SMA). This reflects a bearish bias within consolidation.- However, price is now threatening to break above the triangle resistance AND the 200-week SMA. - A close above $16.50 this or next week would be a bullish breakout signal. Breakout and Pullback Scenario:- If price does break above $16.50, there is some resistance right away around $17.00-$17.25. - The daily RSI is pushing above 70. In a market has been sideways and with an overbought indication, we should anticipate selling at this resistance.- But a bullish market should hold price above the $15.00 area. A break below $14 on the other hand would likely mean a false bullish breakout, which would put pressure back towards the bottom of the consolidation area, or around $10.RDC Daily Chart(click to enlarge)