International Bancshares Corporation $IBOC has been consolidating since price came up to about $42.45 a share in 2017. It is now in a bullish breakout from the prevailing range.IBOC Daily Chart(click to enlarge)Range Breakout:- The market was ranging, but there were many clues that bulls were more in control than the bears.- As we can see on the daily chart, price always held above the 200-day simple moving average (SMA) when it was in the previous range.- Also, the RSI never fell to 30, which reflects weak bearish momentum.- This week, we have a clear bullish breakout above the range resistance.- A pullback is fine as long as price does not break below $40.- If price does fall below $40, we should reassess and look for further clues.- Otherwise, after a 8-month long consolidation, it would not be a surprise to see a 10-15% rip after this current breakout towards $48 area. We should cap our expectation to $50 for now.