Recently, we noted that International Bancshares Corp $IBOC was in a bullish breakout from a range that started in September 2017. Price retreated soon after the breakout. This pullback however gave us a chance to see how the market would react if price went back into that consolidation range. So far, the market is confirming the bullish outlook by supporting price at the resistance area of the range. IBOC Daily Chart (click to enlarge) Breakout Confirmation:- The daily chart shows that price was holding above the 200-day simple moving average (SMA) all throughout the range consolidation.- This suggested that there was a bullish bias anyway. - The breakout was thus in-line with the prevailing uptrend, which was intact. - Then, when price pulled back, IBOC found support at $42 a share. - The subsequent rebound was sharp as well. - Price action with the breakout, and the support after pullback suggests the market has some more bullish outlook.- I think we should anticipate a run to $50 a share.