With the completed sale on Hunas Falls Hotel the momentum on other hotels have improved. EAST with the ownership of a Hotel, which was in the news not so long ago, drew Traders' attention towards the counter in addition to a few other Hotel stocks. As indicated in the Chart below the accumulation can be seen between 13.00 and 14.30, with the price candles during the past few weeks since the last week of October 2018 has trended up with higher lows. Up side break out must be a close above 14.30, and the trend cancellation will happen only when the counter closes below the present swing low of 11.90.
Positive momentum will take the stock up to test the resistance at 15.80, thus a trade should be targeted at that. Those who are interested for a trade can take positions between 13.00 and 14.30, with a target at 15.80, a failure of this trade should be stopped at 11.90. It is very important to expose to a trade volume that you can easily withstand a loss if the stop loss is triggered. Please keep that in mind when you are trading as a professional trader. If you are not a professional trader please do not trade. Have your hard earned cash safely parked in a bank.
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