Taking out a low...

Learned something this past weekend about breakouts down through resistance.  Watch for a turn back up. If that turn up happens just below a prior low, it's generally a strong bullish move.  The idea is that the stock has taken out a prior low, shaking out the bears, and is now on a good bull run.  It might even break out of resistance in the process - especially if it's on the 3rd, 5th, or 8th roll (Fibonacci sequence there...).  Good example of this is NFX (below) in December 2009.