See link below for previous analysis.
City Lodge has not taken off as I anticipated.
The stock has continued to consolidate sideways without a clear pattern though we have two areas of support and a resistance zone.
I have no view at this stage and I will sit on my hands on this one.
City Lodge Hotels operates approximately 62 hotels across six African countries, primarily targeting the business travel sector. The company's performance largely mirrors the economic conditions in South Africa. Historically well-managed, City Lodge is poised for growth as the economy rebounds. However, it faces challenges from reduced corporate travel and...
Watch out - City lodge is breaking out this long term triangle bottoming pattern. I have 3 different targets based on the distances of the triangles within the larger triangle. I'd like to see a little more volume on this break but technically it looks good. More conservative traders can wait for a breakout above 5.05 for further confirmation
City Lodge has been forming a Symmetrical Triangle since November 2022...
It constricted into the apex and as most chart patterns, it broke above showing strong demand and buying momentum.
Now with the holiday season and with more people going on vacations, we can expect the price to continue up.
The first target remains at R5.44.
Great to have in ones...
City Lodge, has been in this tiresome Symmetrical Triangle since October 2022...
However, recently it's broken above which is showing positive signs that there is upside to come..
However, in the most recent SENS update there was a mention about the Odd Lot Offer.
So let's break it down and what it means.
1. What's Going On:
As of October 16, 2023, there...
The last update with City Lodge was the market was moving in a very large Symmetrical Triangle.
It was luck of the dice whether the makret was going to break up or down.
But there were certain signs showing an uptrend was more evident. The support level was making higher lows.
The price did not crash down when it went below 200MA>
And now with the 7>21 and...
City Lodge (CLH) runs a group of about 62 hotels in six African countries, with most of its business in South Africa. It is primarily aimed at the business traveller and hence its performance is mostly a function of the South African economy. Over the long-term, this is a company which is well-run and should grow as the economy recovers. Cost-cutting by most South...
Which way?
Symmetrical Triangles are generally known as Continuation patterns. This means, when the price breaks out it normally moves in the trend of the prior direction...
However, the trend has been sideways before this. It's been in the Twilight Zone for over a year.
And it gets worse.
When the price oscillates up and down in between the 200MA - You know...
I've just gotten off a plane, so excuse if I am missing something.
But these jet lagged eyes potentially sees a massive Cup and Handle in the process.
Ignore the indicators like 7=21 price <200 and RSI<50.
And just see the price action.
We have higher lows forming, strong buying at the bottom of the range (could that be smart money and the big boys.)
We...
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).
Cup and Handle seems to be forming on City Lodge.
There are signs of a rounding cup, a handle that is in the process and now it needs to complete.
Once the price breaks above the brim level, it'll be more positive for upside.
7=21 = About to cross
Price>200 - Bullish
RSI>50 - Pointing down?
Target R6.51
WARNING is that the previous trend was sideways. We...
A price action above 460 supports a bullish trend direction.
Further bullish confirmation for a break above 480.
The target price is set at 500 (upper range of the rounding bottom pattern.
the stop-loss price is set at 440 (200-day simple moving average).
The win/loss ratio is 1.6:1.
A rounding bottom pattern, also known as a saucer bottom or a bowl bottom, is a...
City Lodge released a pleasing set of interim results for the six months ended 31 December 2022 on the 24th of February 2023.
Although the share price did trade lower, there are reasons to be optimistic.
Taking a broader look at price action from an Elliott Wave perspective:
From 222 to 650 we have a leading diagonal for wave 1.
From 650 to 359 we have a zigzag ...
Bear Diamond Pattern formed on City Lodge a few weeks ago.
We then had a strong break down, which showed a big collapse to come.
We set our target at R3.71 which many traders thought I was crazy.
I told them I hope I am wrong, because I don't like when companies drop in value who offer great value to customers.
But the charts showed downside and I couldn't be...
Bear Diamond Pattern broken down
Bearish Engulfing
Target R3.71
CONCERNS:
This is one of those stocks that move in large Sideways consolidation areas for a long period of time. If the price breaks out of the range, we can get some traction to the upside. But this is not a trading haven.
Cup and Handle - Retest
7>21 SMA - Bullish
Price >200 Bullish
RSI >50 broken Neg Div.
Target R6.46
General Info
City Lodge (JSE:CLH) is a South African-based hotel group listed on the JSE in 2000. It operates in variety of hotels across South Africa, including the City Lodge Hotel, Road Lodge, and Town Lodge brands. You'll find the hotels mainly in SA...
This is not a forecast or a signal. It's just an example of an occasion which a pattern like Wolfe Waves worked well.
CLH - A while back I posted a long entry (Early October) with a potential Bullish Wolfe Wave forming with a trend reversal at point 5.
We saw a bounce at the key area of support followed by a continuation on that momentum to the initial target.
