Intelligent Systems Corp. $INS is in bullish breakout from a recent consolidation range between $25 and $30.Intelligent Systems Corp. (INS) Awaiting Breakout From $25-$30 Consolidation Range INS Daily Chart (click to enlarge) Bullish Breakout:- On the daily chart, we can see that after a sharp correction in May, price has been consolidating throughout June.- Last week, price teased a bullish breakout but retreated.- This "false breakout" would have been a sign that bulls were weak. However, the market then held price above $28 (middle of the consolidation). - This support reflects a shift from the sideways mode to a slightly bullish one. It also supported a bullish breakout scenario that materialized on the Monday 7/8 trading session.- Indeed, we saw price close above the range resistance during the 7/8 session.- With this breakout, I think there is at least upside first to the $37.50 resistance pivot from April. Above that, the $47.50-$48 area is in sight.- A close below $32 at this point would be a bad sign for the bullish outlook. It would reflect a failed bullish attempt, and could be followed by a bearish one that would put pressure on the $25-$26 support area. - If price does indeed come down to support, I would not rely on it anymore. Instead, I would anticipate further correction to the $20-$23 area, which involves a previous consolidation area as well as the 200-day simple moving average.