EIH : Bull FlagOn weekly charts, Scrip has been consolidating between certain channels since 6 months and now, on the verge of breakout after reaching at 52-week high Enter at 153 - breakout (Post confirmation) to aim for newer highs Price target - 200 Profit book - 176 Golden cross - As marked in chart, Short-term moving average (such as the 15-day moving average) about to break above its long-term moving average (such as 50-day moving average) The golden cross indicates a bull market on the horizon and is reinforced by high trading volumes however, high trading volume is yet to be seen as prior for reinforcement to be gained. Longby amankavi3
EIH Hotel : Pole and Flag pattern break out EIH Hotel : Pole and Flag pattern break out Longby sanstocktrader2
EIH 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 downward. This confirms the weakness of the upward movement. Similarly 3 and 4 the price stays flat and Stochastic trends upward. When you encounter a divergence in two indicators then this implies to tread with caution. In the last week the price has dipped below the 200 EMA and this is confirmed by both the stochastic and A/D. Moreover the relative strength vs. Nifty which has been flat, has seen a downward curvature. This is a good opportunity to go short on the stock with stop loss at 100, the stock is likely to move to the early 80's next couple of weeks.Shortby Nar0