Bullish momentum at play, a possible breakout this week?

easyJet seems like it could break higher here over the course of this week, its share price is currently trading at around 579p a share. Looking at the daily chart, we can see the price has approached a key resistance level of 582p, which is actually this year’s high. After a positive start to the week and the stock being up 3.6% on the day, we may see a breakout at some point in the week. A break and close above this level would certainly build investor confidence for a push towards 600p a share. The last time this stock saw such levels was back in April 2022, practically two years ago. There are some levels of support below in case the resistance is proving challenging, with the first at 549p. A break below this may then lead to a pullback towards the supportive trendline, or respectively, 545p. Only a break and close below the supportive trendline would increase the likelihood of further downside. However, for the time being, the near-term bias remains bullish. This bias is backed by the technical indicators and the MACD is positive and rising and the RSI reads 62, also positive.