Oriental Hotel Analysis Stock is trading in a channel with higher high pattern maintaining supportive Trendline, now ATH breakout, follow chart for proper support and resistance levels. Good risk reward.
LongOrientalhotels
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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.
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