LEMON TREE HOTELS: Rebounding from Downtrend Line Support
✅ The stock has recently bounced off a multi-month downtrend support line, showing a potential reversal signal. This rebound from the support level around 115-120 suggests renewed buying interest at lower levels.
✅ The RSI is also recovering from oversold levels, currently around 43, indicating that momentum is building for a potential upward move. The next key resistance lies around 145-150. A breakout above this resistance zone, supported by increasing volume, could trigger a strong rally toward higher levels. Keep an eye on the price action near 130 for confirmation of strength.
Join our community in telegram for real time updates --- telegram.me/marketiik
Telegram- telegram.me/marketiik
A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
Telegram- telegram.me/marketiik
A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
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.