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.