A picture tells 1000 words.

Part 1.  The Run-up phase

Looking at this chart, I am scratching my head at how I could have possibly lost money on this stock.  This is before I started using 60 min charts.  Go ahead, look at the daily chart or 5 min chart of $GENE, I bet it doesn't look any where as clean as this does.  This 60 min chart is the cleanest chart I have ever seen

I will go into detail of how this chart looks so clean to me.  

Stock is dead.  One random day it gets some volume and makes a run.  It runs right out of the gate and runs into resistance.  It then pauses and consolidates for an hour or so and then breaks the high.  Its off to the races to the next area of resistance on the daily chart.  Almost to the penny.  See chart below to confirm.  Shorts step in and end the run.  Stock pulls all the way back to the previous resistance, which we know becomes new support.  Stock forms a double bottom and makes a 2nd run.  This time its a slow and steady run up to near the previous high.  

Moving Forward 

The 2nd run is made to the previous high.  This is only the 2nd tap at highs so it is sold off.   This is why the previous high is always the first target.  After, stock has an orderly pullback from Feb 5-9 to form a flag pattern.  It then breaks this flag and slowly creeps towards the highs.  Feb 12th the stock makes its 3rd tap on what we call a flat top or triple tap breakout.

Below is chart from the Feb 12th Breakout 

  

Stock runs right out of the gate.  (Tough to catch)  Stock then has an orderly pullback close to support.  Runs up to the highs, makes a higher low, then breaks out of a flat top.  Next is a tight flag pattern, once it breaks the flag you can put a stop right under the 9ema.  And its off to the races.  Stock then forms another flag right on the 9ema (white line).  Stock makes a huge run before going parabolic and eventually breaksdown.  The most important thing to note is, these intraday patterns worked because we were above resistance.  This makes the likely-hood much likelier and much more powerful.  I'm sure this stock has made similar patterns on previous days, but without being in the clear of major resistance on the previous days, the patterns didn't work.  This day, it cleared it and moved clean.