EIH Assoc Hotels Bullish bias
Updated
Overall Structure Looks Bullish
SL 320
Target 510-520s Zone
POC Zone 365s
Price is moving in HH & HL Pattern on WeeklyTF
The price is just above the 200day Moving Avg for the stock with divergence
Stock is trading near the POC line
Expecting a potential upside on the stock
Lets deep dive into Daily analysis
On Daily time frame Chart we are able to understand that price was moving in downtrend
It gave a break out from the range and now trending up with Volume Spurt
And looks like Inverted Head & Shoulders Pattern formation
Potential Target based on Daily TF looks like 480s zone i.e. 23% upside with SL of 380
The Target is also reaching at Daily POC hence once that is achieved one needs to look forward to the price reaction on those levels for Weekly Trade
SL 320
Target 510-520s Zone
POC Zone 365s
Price is moving in HH & HL Pattern on WeeklyTF
The price is just above the 200day Moving Avg for the stock with divergence
Stock is trading near the POC line
Expecting a potential upside on the stock
Lets deep dive into Daily analysis
On Daily time frame Chart we are able to understand that price was moving in downtrend
It gave a break out from the range and now trending up with Volume Spurt
And looks like Inverted Head & Shoulders Pattern formation
Potential Target based on Daily TF looks like 480s zone i.e. 23% upside with SL of 380
The Target is also reaching at Daily POC hence once that is achieved one needs to look forward to the price reaction on those levels for Weekly Trade
Trade closed: target reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.