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| Item Details | Price | ||
|---|---|---|---|
Stock name: Chalet Hotels Limited
Pattern: Near a resistance
Time frame: Weekly
Observation: The previous all time high range for the stock was around 365 and from there the stock had corrected significantly. The stock is in an uptrend from March 2020 and is currenctly consolidating near the resistance levels (in the range of 280 to 330). If we have a look at the volumes, the volumes in this range have dried up indicating no selling coming in near the resistance levels. The stock has recently broken the range of the past few weeks and is now approaching the previous all time high. The volumes on the breakout are not that overwhelming. Once the stock crosses and closes above the previous ATH on weekly basis, we can some good action on the upper side.
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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
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