Freds Inc. $FRED recently saw a surge that happened in after-hour trading. This caused a bullish gap seen on the daily chart.FRED Daily Chart(click to enlarge)Pullback:- As we can see on the daily chart, price surged almost to $3.00 last week, but has since been retreating.- Note that price has essentially closed out the key part of the price gap for September. It will be testing a key pivot around the $1.90-$2.00 area. - I think if price can hold above $2.00, and the RSI can hold above 40, FRED is likely working on a price bottom, with bullish outlook back towards at least $3.00 with the prospect of extending to $4.00.- Otherwise, if price slides under $1.90, we have to consider the September bullish breakout a failed breakout, which might translate into bearish pressure on the $1.33 low on the year, with the prospect of breaking lower, in-line with the prevailing bearish trend.