Toyota Motors $TM is in a bullish breakout, pushing price to a 52-week high. Last time we looked at TM, we saw it retreat from the key resistance around 122. We noted support around 118, but price actually bounced up from around 118.80. We also noted that because the 2017 low was above the 2016 low, that there is some bulllsh bias. This bias materialized as price pushed above the 2016 resistance.TM Daily Chart(click to enlarge)Bullish Breakout in a Sideways Market:- The daily chart shows that price has broken the resistance from late 2016. - We are essentially looking at a sideways market that is following a bearish one in 2015. - In fact, looking at the weekly chart, we can see that price since 2013 has essentially turned sideways. - Therefore, we should limit the bullish outlook.- The weekly chart below shows a bullish projection mapping the 2016 swing. This targets the 129-130 area. With the weekly RSI also reaching overbought territory, we should anticipate resistance if price pushes towards 129-130. TM Weekly Chart(click to enlarge)