Chalet hotels BASE of 10 months (Whats Brewing )
Hope you’re doing well!
The VCP trader is back with a new idea. The attached chart is of Chalet Hotels, and as we can see, there’s a solid base formation on the daily timeframe—this base has been developing for 10 months.
As VCP traders, our task after identifying the base is to spot the three legs of the pattern. The three legs of the VCP are marked on the chart, and we are currently on the third leg. Additionally, we’ve spent some time consolidating near the top, which is a positive sign. I expect Chalet Hotels to break out from this base within a month, potentially hitting new all-time highs as indicated on the chart. These targets are calculated based on the height of the base.
Another encouraging sign is the volume contraction visible from the left side of the chart to the right. This indicates that the stock has been resting and is now preparing for a momentum phase.
Keep an eye on the point of control (marked by the blue line); if the stock falls below this level, the idea will be invalidated. The anticipated targets are the round number of 1000, followed by 1050, and finally 1100.
That’s all for now. Until next time!
That VCP Trader
The VCP trader is back with a new idea. The attached chart is of Chalet Hotels, and as we can see, there’s a solid base formation on the daily timeframe—this base has been developing for 10 months.
As VCP traders, our task after identifying the base is to spot the three legs of the pattern. The three legs of the VCP are marked on the chart, and we are currently on the third leg. Additionally, we’ve spent some time consolidating near the top, which is a positive sign. I expect Chalet Hotels to break out from this base within a month, potentially hitting new all-time highs as indicated on the chart. These targets are calculated based on the height of the base.
Another encouraging sign is the volume contraction visible from the left side of the chart to the right. This indicates that the stock has been resting and is now preparing for a momentum phase.
Keep an eye on the point of control (marked by the blue line); if the stock falls below this level, the idea will be invalidated. The anticipated targets are the round number of 1000, followed by 1050, and finally 1100.
That’s all for now. Until next time!
That VCP Trader
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