CHALET HOTELS Breakout Potential from Symmetrical Triangle

30 ago

✅ The stock is trading within a symmetrical triangle pattern, with the price approaching the upper trendline near 850. A breakout above this level could signal a continuation of the bullish trend.

✅ The RSI is trending upwards and is around 59, indicating increasing bullish momentum. The stock has been respecting both the upper and lower boundaries of the triangle, setting up for a possible breakout.

✅ If the stock successfully breaks above the upper trendline, it could target higher levels, with 900 as a potential next resistance level. Traders should watch for a confirmed close above the trendline to validate the breakout.