ORIENT HOTEL - CONSOLIDATION BREAKOUT WITH VOLUME
Oriental Hotels Ltd. is an interesting chart with following
1. RSI on all time frames above 60
2. Narrowing Bollinger Bands on daily chart and price moving on upper Bollinger Bands
3. Price breakout from its 6 months long consolidation with huge volume
4. Major Support exists at 129-139 zone being multiple cluster of moving averages.
Can be a good risk reward to fetch on dips and dips only if it tests its break out zone
Lets See How it Evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
1. RSI on all time frames above 60
2. Narrowing Bollinger Bands on daily chart and price moving on upper Bollinger Bands
3. Price breakout from its 6 months long consolidation with huge volume
4. Major Support exists at 129-139 zone being multiple cluster of moving averages.
Can be a good risk reward to fetch on dips and dips only if it tests its break out zone
Lets See How it Evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
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