Oriental Hotels... breakout!!!

On Friday, Oriental Hotels broke out from the resistance level of 70 to close at 73 levels, on good volume and with a bullish candle.

If it sustains the momentum, we might see the price levels of 88. On retracement, 73-70 levels can be good accumulation zone.

Strong support for the stock is visible at levels of 62, below which one needs to be cautious.

Also, this stock is a low liquid stock.

Define your strict stop-loss at 5-8% depending on your risk management.

Note: Personal analysis. Not a buy/sell recommendation. Consult your investment advisor.

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.