The reasons: 1. Low-risk entry point 2. Prior strong upside move 3. Has gone through a majority line of supply 4. A breakaway move, the first breakout after the stock in a confirmed stage 2 uptrend 5. High relative strength 6. The stock explodes 83% while the market only goes up 2% 7. Volume dries up as less supply coming to the market 8. Huge volume on the breakout
Flaw: The market is still in a hard-penny environment with only 35% of total stocks above the 200-day MA.
I like to see the stock holds up and follow through.