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...
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...
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...
