1. After the fall of March 2020, this stock started recovering slowly
2. Every up move showed a Flag and Pole Pattern breakout with good volume
3. Recently, there is a breakout of a similar pattern with good volume
4. Also, there are lots of deliveries near the 135-136 level over the past few days which can act as a support (Stop Loss level)
5. Volume on Breakout...
lemontree hotels positional setup self explanatory. i will daily post intraday/swing and positional trading opportunities so u can analyse and get the most from it. if you like my analysis do like and follow me as a token of appreciation.
Stock has shown good upside momentum and has not been fully recovered after the covid-19 Impact
hence here i see an opportunity and feel like it is ready to shoot up and forming a pennant pattern
For easy targets of 50 to 60.
A closing above 114 level will mark a new rally for the stock.
Stock has already run up in recent times, a consolidation can not be ruled out. I would like the stock to move past 114 and then do a retest of the Breakout.
Today was a low volume day and a consolidation in narrow range was seen.
Eastern International Hotels (Oberoi Group) prices movements are an interesting study in diverging trends. I like to study weekly charts since they are better indicative of medium term trends and give a clearer picture of the strength or weakness of a scrip.
1 and 2, the price and the oscillator move in opposite direction, further the A/D trend (5) also is...