Oriental Hotels Limited (ORIENTHOT) Stock - Complete Technical Analysis - Aug 30, 2024

Oriental Hotels Stock Analysis: Bullish Trend

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Let's dive into the technical analysis of Oriental Hotels Limited (ORIENTHOT). Currently, the stock is trading at 163, which is -1.46% from its 52-week high of 165 and 93.56% above its 52-week low of 84.

Support and Resistance Levels:

Support Levels: Key support levels are around the Classic Pivot S1 at 130.95, Fibonacci S1 at 130.72, and Camarilla S2 at 140.27.

Resistance Levels: Significant resistance levels are near the Classic Pivot R1 at 151.85, Woodie R1 at 155.0, and Fibonacci R2 at 151.62.

Moving Averages:

The stock is trading above its short-term and long-term moving averages, indicating a bullish trend. Notably, the current price is above the Exponential Moving Average (EMA) across various periods, including 10, 20, 30, and 50 days, and also above the Simple Moving Average (SMA) for 10, 20, 30, and 50 days.

Technical Indicators:

MACD: The MACD line is above the signal line, suggesting a bullish momentum.

RSI: At 69.78, RSI indicates that the stock is approaching the overbought zone, but it hasnt reached it yet.

ADX: The ADX value of 20.04 signals that the current trend is not strongly defined, indicating moderate trend strength.

Stochastic Oscillator: The %K line is at 74.6, suggesting that the stock is in the overbought zone, but it is not in an extreme state yet.

Williams %R: The value of -7.23 shows that the stock is in the overbought zone.

Chart Patterns:

Pivot Points: The Classic Pivot Point at 138.7 serves as a crucial level to watch for potential reversals.

Camarilla Pivots: The Camarilla R1 at 146.02 and R2 at 147.93 are important resistance levels to monitor.

Fibonacci Pivots: The Fibonacci R1 at 146.68 is also a notable resistance level, and the Fibonacci S1 at 130.72 is a key support level.

Other Observations:

Awesome Oscillator: Positive value at 10.0 indicates a potential bullish trend.

Commodity Channel Index (CCI): At 204.81, the stock is in the overbought territory.

Average True Range (ATR): The ATR for the past 14 days has been fluctuating, indicating varying volatility.

Overall, the stock is in a bullish trend but showing signs of being overbought. Traders should watch the support and resistance levels closely and consider potential corrections if the stock approaches overbought zones.