Shake Shack $SHAK appears to be breaking a falling channel resistance, but we should probably anticipate resistance soon, around $56 a share. SHAK Daily Chart(click to enlarge)Channel Breakout:- The daily chart shows a market that has been in consolidation/correction mode since June 2018.- Price has fallen from $76 in June 2018 to almost $40 a share in December 2018, before climbing back above $50 in 2019. - The daily chart shows price breaking above a falling channel.- We also see the RSI push above 60, which is a sign that the bearish momentum is gone. Still Bearish Structure:- The overall structure is still bearish based on the pattern of lower highs and lower lows.- Given this prevailing trend, we should anticipate resistance when price approaches the $56 area. - Note that the 200-day simple moving average (SMA) resides around $56 at the moment.- A bearish divergence between price and the RSI would also provide reason for the market to sell around $56. Support Levels:- Now, if price retreats from $56, it would be retreating from a previous high instead of below the previous high. Thus, we can start anticipate a sideways market.- In fact, we might want to anticipate support around $46.40-$47 area, which was a common support. A break below $46 would open up $40-$41. - A break above $57 on the other hand, would be a bullish signal towards the next support/resistance pivot around $62-$62.50.