Channel Breakout and RetestGlobalFoundries Inc.BATS:GFSibraheeemzGFS Brokeout a descending channel and retested it. It is reversing its trend as well. It made a High at 51, and retraced to golden pocket. There is a confluence of weekly EMA20 as well. Volumes are rising weekly, which supports the price movement. I'd expect GFS to maintain its uptrend and rebound from here. With SL below 39, a long trade can be planned in 40-43 area, with 50-51 as TP1, and 60 as TP2. If it is able to cross 61, SL can be trailed till it stops going higher.