GLOBUS SPIRITS ON THE VERGE OF BREAKOUT (SEE DESCRIPTION)

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Globus Spirits' charts says a lot these days!! Lets us analyze step by step! This analysis will be purely based on Price Action...

"WEEKLY CHART"

Firstly, look at the weekly chart above. There is a clear 5 year old trend line, and current price is on the verge of giving a breakout from this multi-year resistance line. The volumes here too are favorable. RSI too shows momentum!!

Now, since this is on the VERGE of breakout it is important that we see other timeframes charts too. Let us see what they have to say.

"DAILY CHARTS" (Wasn't able to upload the daily charts because of TradingView feature. You should open daily chart of Globus Spirits on the side for better understanding)

If you watch closely to the daily charts of Globus Spirits, it is visible that the stock is trading continuously between the range of 300-350 from last October. It came above this range but wasn't able to sustain for a long time. Now look at the last candle (4 June, 2021). Firstly the volumes are brilliant! Secondly, the price went up the trading range of 300-350 but wasn't able to sustain above that point! But does this mean that we should avoid this stock?

"MINUTES' CHART" (Please open 5 min and 1 minute chart aside for better understanding)

Looking at the minutes' chart, if you look at the candles which are towards the day end; the volumes of these candles are significantly high compared to the rest of the day. This shows interest of investors in this stock. Hence, it can be predicted that the price of Globus Spirits may go up on Monday (7 June, 2021) and hence giving us a breakout in both weekly and daily charts (given that volumes are high on Monday)!!!

"CONCLUSION"

I would recommend going long on Globus Spirits IF it gives a breakout on Monday with good volumes!!

FOLLOW IF YOU LIKE THE ANALYSIS
LIKE AND COMMENT WHAT YOU THINK ABOUT THIS!!

THANKS
Transaction en cours
NOW, THE TRADE IS ACTIVE!! YOU MAY BUY GLOBUS SPIRITS AT CMP FOR AN UPSIDE OF 8-10%!!!
Trade fermée: cible de profit atteinte
SUGGESTED LONG ON GLOBUS SPIRITS AT 385.
TOUCHED 460 TODAY!!!
20% RETURNS IN JUST 6 DAYS!!!!
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