What technical chart patterns are forming around the announcement, and could they signal a breakout or breakdown?

Technical view – In the last 5‑day window leading up to the earnings‑call announcement MLSS has been trading in a tight ascending‑triangle formation on the 15‑minute and daily charts. The upper trend‑line has held around $12.40‑$12.55, while the lower trend‑line has risen from $11.80 to $12.10, tightening the price range and generating a classic “squeeze.” Volume has been falling with each pull‑back, but a modest uptick in volume on the most recent bullish candle (around $12.30) suggests the market is loading into the triangle. If the price breaks above the resistance line with a volume surge, the pattern projects a continuation move of roughly the height of the triangle (≈ $0.30) – a target near $12.70‑$12.80. Conversely, a break below the lower trend‑line would invalidate the bullish bias and could trigger a move down to the prior support zone around $11.60‑$11.50, a classic breakdown from the triangle.

Implications – The imminent Q2 earnings release is a catalyst that often provides the final push out of such consolidations. Given the neutral‑to‑slightly‑positive sentiment score (15) and the company’s growth narrative, the upside breakout is more plausible, especially if the earnings beat or provide a strong outlook. Traders can consider a long entry on a clean break above $12.55 with a stop just below the lower trend‑line ($12.05) and a profit target near $12.75‑$12.80. If the price instead pierces the lower trend‑line, a short‑stop‑loss play with an entry near $12.00, a stop above the recent high ($12.30), and a target around $11.55 would capture a potential breakdown. Monitoring volume and any pre‑earnings guidance will be key to confirming which side of the triangle the market will favor.