We recently observed a bullish breakout in Insys Therapeutics $INSY when price broke above a key pivot at $7.60. We suggested a strong possibility that price will find resistance around the $8.70 pivot, but would remain bullish if price can hold above $7.00 on a subsequent pullback. Price indeed retreated after tagging $8.70 and has so far anchored above $7.00 - a strong bullish sign. INSY Daily Chart(click to enlarge)A Shift in Trend:- Price action was bearish heading into late 2017.- Then after almost tagging $4.00 as a low, price rebounded sharply. This sharp rally to $14.00 was a sign that the downtrend could be shifting at least to a sideways one if not a bullish one.- In the sideways scenario, there is still upside to the $14-$15.00 area. (Though we might need good overall market sentiment to support this move). - A break below $7.00 on the other hand is a bad sign. But we survived the most recent pullback. - Price is again moving above the $7.60 pivot, so we remain steadfast on our bullish outlook.- There with upside of 2x, or conservatively 40% towards $10.00 and risk of at most 20%, an entry around $7.25-$7.50 would still be achievable and would yield good reward to risk. - I was lucky to get it at $7.05, but if the market is in bullish mode, we might not see price close to $7.00 for a while because it just anchored and jumped up from this pivot.