Lemon Tree Hotels / Keep An Eagle Eye On

Lemon Tree Hotels was in a downtrend respecting trendline resistance. Now the price has broken out of the 2-year long trendline resistance and soon after failed to sustain. Now the price is at a retest of the trendline resistance breakout. We will now wait for the price to show strength and take positions
Every up move is with good volumes (June 2020, Novembar 2020, May 2021) so now the price is near to resistance zone wait for volumes to come in for confirmation of the breakout.

Price will face immediate resistance at 48 levels
If the 48 level is taken out will strat scaling

Keep this in your radar


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