The Bollinger lower band was penetrated
Strong bullish engulfing candle showing strong buy intention
Sideways movement showing consolidation
Support levels tested (one at close and one at daily low, see green parallel lines)
Expected some resistance from Bollinger monthly middle band and daily resistance trend line (red line)
Very strong bullish engulfing
The lower band was penetrated
Rising and higher than average volume
weekly and monthly analysis don't object
Warning: middle band can show resistance, yet the candle looks very strong