Chalet Hotels Limited (CHALET) Stock - Complete Technical Analysis - Nov 11, 2024

Chalet Hotels Limited Stock Technical Analysis Key Support & Resistance Levels CHALET Price Acti

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.

Chalet Hotels Limited (CHALET) is showing a strong upward recovery from its 52-week low, currently trading at 885.85. However, the stock has recently formed a "Spinning Top" candlestick, signaling indecision in the market, which could indicate a potential pause or reversal in the upward trend. The RSI is at a neutral 55.31, while the MACD shows a positive momentum, suggesting that the stock could maintain its bullish short-term outlook. However, the Stochastic RSI at 82.0 suggests that the stock is approaching overbought territory, and a pullback could occur.

The support for this stock is around the 860-870 range, and resistance lies in the 920-940 zone. If the price breaks the resistance, we could see further gains, possibly approaching the 1,000 mark. On the other hand, a failure to maintain above the support could see the stock retrace toward lower levels.

Volatility, as shown by the ATR value of 19.49, indicates that traders should be prepared for moderate price swings. The stock's uptrend is supported by its 10-day and 50-day EMAs, reinforcing the positive momentum. However, traders should keep an eye on price action, and use stop losses at support levels for risk management.