Thomas Cook, one simple horizontal line setupTraveling is booming in India post covid.
And travel companies are enjoying this piece of pie.
-Posted growth YoY EPS growth, OPM% also improving.
-Near Major resistance, under which it is consolidating for 50 days (good consolidation)
-Good Shakeout, when price went below major ema (here 21 dema) and rally back (also known as MAU&R: Moving Avg Undercut and Rally)
-Tightness near resisantance.
-Signal Candle (5th n 7th June candles are white dot, which is more than 5% move with 1M vol) suggesting big players are buying. Retailer buyers cant create such volumes.
If it breaks this resistance level. with good vol (basically more than 10 day avg) then can expect good move.
No buy/sell recommendations.
