austinrodney00

City lodge and my long position

Long
JSE:CLH   CITY LODGE HOTELS LTD
City lodge now after its stock split and rights issue has been forming this perfect horizontal channel where it will soon be reaching close to the bottom due to the earnings report and bounce back giving us an amazing potential 130% growth opportunity. this is something i am currently in and will be holding for the upward wave to gain some great profit.

Please note that this is just an idea open to comments and suggestions and not financial advice, always manage your risk and trade wisely.

Comments

Also in on this, no turning back. Hoping for a test of R5
+3 Reply
I agree with you
+3 Reply
Given the drop in share price this week, does your view remain the same ? I’m having my doubts now. Thanks
+1 Reply
austinrodney00 MohammedEssay
@MohammedEssay, i am still in on this plan and really hope it works, its still going according to this plan, because there is a high resistance at the R2.90 mark that i mentioned, if it drops below R2.75 around there i will start to worry. Its mainly because of the delay in the earnings report that we will see this share price drop slowly
+2 Reply
harolds63751 austinrodney00
it is below 275. now what.
Reply
austinrodney00 harolds63751
@harolds63751, it is quite low but rather wait to see what happens after the earnings report on thursday. That will decide if its better to hold or just cut our losses and move on
Reply
harolds63751 austinrodney00
Must we sell now.
Reply
StuartPeter harolds63751
@harolds63751, The price is still moving in the channel, RSI and Stoch RSI are both low and the markets as a whole seem to be taking a hit. I'll continue to hold for now
Reply
austinrodney00 harolds63751
@harolds63751, i would not sell now, its way too low and would jump up on more news of the country opening borders. the RSI and stochastic shows that its due to come up. but of course how long is the question. I am down -30% on this so im in too deep to accept my losses
Reply
harolds63751 austinrodney00
What price do you sell now.
Reply
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