For the last six trading days Graphite has been trying to break the channel but has not succeeded so far. It appears a strong base has been formed around 1080 to 1100. While 1/1 angle support is at around 1040, the channel has a downside at around 1000 and the stock's temporary down side to 1000 can not be ruled out. On Monday if 1033 is broken on closing basis, we may assume another breakout will take the stock to ATH and beyond.