Titan Europe (TSW) - Breaking out?

Titan Europe (TSW) closed today at 83p. This marks a quiet breakout, on low volume, above the resistance level (82.5p) that has been containing the price for about three months.

TSW - 6 month chart

Now you might think that nudging through by a mere 0.5p is insignificant but in our experience, these small moves often mark the start of a new uptrend. The OBV remains strong and the MACD indicator gave a buy signal a few days ago. Judging by the longer term chart, there doesn't seem much to stop the SP climbing to about 122p (see below). Do you agree?

Titan Europe - Longer term chart (approx 27 months)

Apart from Blackrock increasing their holding to above 5% (17th November) and the good trading update on 5th November (for the 3rd quarter to 30th September), we can't find any other obvious reason for the breakout. If you have any ideas, please share them with us here.