It's been a ho-hum year for cosmetics company Estee Lauder ( EL); shares of the $24 billion firm have only moved around 4% higher since the first trading day of 2013. But EL could be in store for considerable upside thanks to the long-term pattern that's been forming in shares. Lauder is currently forming an ascending triangle pattern, a trading setup that's formed by a horizontal resistance level to the upside and uptrending support put in below shares. Essentially, as EL bounces in between those two technically significant price levels, it's getting squeezed closer and closer to a breakout above that resistance level at $64. When the breakout happens, we've got a buy signal on our hands. Momentum adds some extra confirmation to the upside setup in EL. That's because 14-day RSI has been able to maintain an uptrend over the course of the pattern, a sign that Lauder's price increase is accelerating. Since momentum is a leading indicator of price, that's a very auspicious sign for shareholders. Wait for the breakout before putting your cash on the line in EL.