The recent monthly candle is a strong bullish candle, showing a significant upward move. This adds confidence to the breakout.
There seems to be an increase in trading volume during the breakout, which is a positive sign. It indicates that the breakout is supported by strong buying interest.
Compare the stock’s current valuation metrics (like P/E ratio, P/B ratio) with its historical averages and industry peers. If the stock is undervalued, it may offer a good entry point.