Since finding a low of $1.20 in November 2016, CBAK Energy Technology $CBAK has been consolidating roughly between that low and 2.00. CBAK Daily Chart(click to enlarge)Bullish Breakout:- The daily chart shows that price finally broke above key resistance factors. - CBAK price action broke the 2.00 range resistance as well as a falling trendline resistance.- We should also note that there was a bullish slingshot before the breakout. (When price breaks above key moving averages and then bounces off of them as support.)Pullback:- Price has since retreated back below 2.00 after failing to tag 2.40. - We might see some more downside, but I think if price is developing a bottom, it will find support at or above 1.50.- Also, the RSI should hold above 40, which would indicates maintenance of bullish momentum.