Is it a flag? It is very bullish overall. Standing over multi year resistance and has already corrected. So now should be the time to move. But i never trust the market. If it comes back into the channel, it shall go slowly then.
Channel and RSI Divergence are suggesting a short at current level for a target of 28.30 by providing a suitable Stop loss. However one can notice that Primary trend started on Aug 2015 is still intact and driving the prices higher so it is not for trend follower but small contra trend to add fast profit to your capital and exit.
Close above 30 with good volume will be positive for stock. Since 2011 this level acting as resistance. Wait and watch...
bear trap,fore more learn any books on beartrap or search internet sites
The formation itself is telling clearly where it wants to go so just follow the price movement. Stop loss little above the latest picot which is also beautifully aligned with fib 61.8 level.