INDIAN HOTEL - Flag and Pole Pattern BREAKOUT
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 is also good on a Daily Chart.
Additionally, states are relaxing Covid restrictions and hotel bookings SHOULD rise.
Keep in mind, there can be a fear of third wave. But these factors are already discounted in the chart.
BUY: 140 (Today's close Breakout Candle)
Target: 158 (Previous Resistance)
Tight SL: Below 135
Wide SL: 130
Note: Keep in mind, there is a resistance at 145.
Disclaimer: This is purely for educational and learning purposes. This is NOT a BUY/SELL recommendation. Please do your own research before investing/trading.
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 is also good on a Daily Chart.
Additionally, states are relaxing Covid restrictions and hotel bookings SHOULD rise.
Keep in mind, there can be a fear of third wave. But these factors are already discounted in the chart.
BUY: 140 (Today's close Breakout Candle)
Target: 158 (Previous Resistance)
Tight SL: Below 135
Wide SL: 130
Note: Keep in mind, there is a resistance at 145.
Disclaimer: This is purely for educational and learning purposes. This is NOT a BUY/SELL recommendation. Please do your own research before investing/trading.
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