Hotel Stocks are Rising.
Here is how I traded a Hotel stock using WIBE.
Trade Type: Trend Riding
Set up: Break out
The above is the snapshot from WIBE, where I noticed hotels rising in the ranks.
So I initiated a position in INDHOTELS
Indian Hotels Co. Ltd:
- Buy Price: 284.35
- Buy Date: 30-Aug-2022
The Stock has been on a continuous uptrend (Stage 2) where all the moving averages are nicely aligned, and I waited for a pullback (May, June, July, and August) breakout confirmation on 30-August-2022 (on lower volumes, though).
As of the market close, the Stock from the buy price has an Unrealized gain of about 21%. Do not buy after reading this post, as the Stock has already gone up by 21%, and thus I suggest waiting for a pullback. Do note that I might sell the Stock when WIBE indicates a SELL signal. A word of caution here – I am seeing two large red candles (more than average sellers), and if the same trend continues, I might sell the stock booking profits.
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