Granules - Likely breakout
PRICE ANALYSIS
*Price is currently trading at current year high
*price has formed clean trend
*price is currently squeezed
*the overall structure looks like a round bottom. breakout could give a potentially good results in long term
*price has taken support at PEMA and pema is stacked and sloped with a 45 degree angle.
*the breakout candle has a large range which is ideal for breakout.
VOLUME ANALYSIS
*the volume is significantly smaller than the previous breakout.(4 month consolidation breakout)
*the volume of the breakout candle is very high which is good sign of breakout
*the volume of the rejection candle is significant when compared to breakout candle
PIVOT ANALYSIS
*there are multiple pivot resistances from 366 to 371.
*the pivot analysis for upcoming month is highly bullish as of now. yet to be confirmed on the last print of 31st October.
CONCLUSION
*overall Granules is coiled for breakout. However, the multiple resistances at 371 range could pose a barrier for breakout and could show some rejection. Nevertheless, any pullback or breakout of pivot levels would be a great buying opportunity.
*Price is currently trading at current year high
*price has formed clean trend
*price is currently squeezed
*the overall structure looks like a round bottom. breakout could give a potentially good results in long term
*price has taken support at PEMA and pema is stacked and sloped with a 45 degree angle.
*the breakout candle has a large range which is ideal for breakout.
VOLUME ANALYSIS
*the volume is significantly smaller than the previous breakout.(4 month consolidation breakout)
*the volume of the breakout candle is very high which is good sign of breakout
*the volume of the rejection candle is significant when compared to breakout candle
PIVOT ANALYSIS
*there are multiple pivot resistances from 366 to 371.
*the pivot analysis for upcoming month is highly bullish as of now. yet to be confirmed on the last print of 31st October.
CONCLUSION
*overall Granules is coiled for breakout. However, the multiple resistances at 371 range could pose a barrier for breakout and could show some rejection. Nevertheless, any pullback or breakout of pivot levels would be a great buying opportunity.
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