On the heels of its most recent run up, Zillow (Z) looks to be setting up to push higher. Since the low printed in Nov 2018, Z has steadily begun to carve out higher lows and has finally been able to generate momentum following its initial earnings reaction (5/9). After more than a 50% rip from the low on 5/2 ($31.75), Z finally started to retrace at and around the $49 level. This pullback has come right in to test the most recent breakout zone (6/5 at $44.4 level) and appears to be using this previous resistance level as support(the 2/22 post-earnings pop turned lower the following day at the same price level). After 4 consecutive sessions of trading lower, we finally started to see a change in behavior on 6/13 with a 2.5% gain and close up near the high of the day. The last two sessions have been inside days as Z, and most other names, await the FOMC on Wednesday (6/19). I wouldn't rule a secondary test of the $44.40 level or even a washout of the low on 6/12 ($44) but any sort of false break or rejection of lower price only adds to the bullish picture here. Looking for a break above the 6/13 high and continued strength which would setup a potential retest of the breakdown last summer (Aug 2018) when the stock fell from the $58 level to below $50. A couple ways to play the potential move: buy the break of the 6/13 high ($46.50) on any strength in the coming days; if the stock drifts lower then look for any strength/demand on a secondary test of the $44 level.