Luxury ETF is breaking out

The Krane shares Luxury ETF was a novel idea to give investors the exposure to the Luxury sector. But with Chinese consumer weak sentiments and inflation in developed countries, the Luxury goods manufacturers had a bad couple of years. Recently the ETF has been breaking out of its 200 Day SMA. After all the 20-Day, 50-Day and 100-Day SMA spending significant amount of time below 200 Day SMA on a daily chart, the ETF has broken out of its 200 Day lows. It has recently had a good run with sizeable rallies daily. My assessment is that this breakout will sustain for some time to come