Kandi Tehnologies $KNDI surged from around $3.50 in August to touch $9.50 in October before retreating and consolidating. We are at a point of consolidation where, a breakout can open up the next directional swing.KNDI Daily Chart(click to enlarge)Coiling to Range:- After a surge as we seen in Sept-Oct, what usually happens is a period of consolidation, specifically in the form of congestion, or gradual normalization of volatility.- KNDI's daily chart shows that coiling after the surge.- In December, price action abandoned the "triangle" and evolved into a range roughly between 6.80 and 7.60. - I think a break above 6.80 could open up the 9.50 area up to the 10.00 psychological level.- A break below 6.80 might open up further correction towards 6.00, and possibly 5.50.Bullish Bias:- The surge in Sept.-Oct. established a bullish bias.- Furthermore, the 200-, 100- and 50-day simple moving averages (SMAs) now have a bullish alignment.- This means, as long as price is above $5.25, there is still bullish bias. - The RSI is holding above 40, which reflects maintenance of the Sept-Oct bullish momentum.- Lastly, we saw some strong buying today as price tagged $6.80. - Now, let's focus on the $7.60 resistance.- Otherwise, monitor the $6.00 handle.