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Peet_Serfontein

CLH: some downside potential?

Short
CITY LODGE HOTELS LTD (JSE:CLH)  
Peet_Serfontein  
JSE:CLH   CITY LODGE HOTELS LTD
Technical Indicators Chart Patterns
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indicator chartpattern
A price action below 490 supports a bearish trend direction.
Crossing below 480 will act as additional confirmation for downside potential.
The target price is set at 450 (the 200-day simple moving average).
The stop-loss is set at 520.
Downside price momentum supports the bearish trend direction (see the lower panel).
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