Example of a Breakout - GNK

I was asked by a reader to give some examples of chart patterns to look out for. Below is GNK, a stock I posted about before. I set an alert at 1.82 to text me if it broke that price. I received the alert but did not act on it and the stock proceed to hit 2.89 in a few minutes. The two charts below are a 10 day chart and a 1 month chart. The red horizontal line shows the resistance point of 1.82. You can see that once the stock broke this point, it skyrocketed up. The reason it spiked as big as it did was because shipping stocks were hot at that moment. Either way, if you are watching for breakouts, it can be very profitable.