Mandarin Oriental – [ $2.59 Target Met, No Hindsight, Read On]

16th May, 2018, 8:36 AM

Mandarin Oriental – [ $2.59 Target Met, No Hindsight, Read On] Mandarin Oriental 16th May 2018

Chart Source: Poemsview 16th May 2018

Mandarin Oriental a counter related to the hospitality sector saw it moving up steadily over the last few days.

In fact, we blogged earlier on just last week when Mandarin Oriental was trading at $2.51 alerting of a potential upwards move as it has broken above its horizontal resistance.

A re-test of its break out point of $2.50 saw a successful close above that and the rest they say is history. Read more HERE to see our thoughts behind the move.

Mandarin Oriental seems to be resisted at around the $2.62 level in which we might see the price hover  around this level. If it manages to break this resistance, we might see $2.69 in the coming days.

Using Simple Technical analysis can give one a good advantage in the market as seen from our post. Don’t forget Mandarin Oriental trades in USD so managing your risk is important.

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Mandarin Oriental USD – [ Rare Uptrend Stock That Is Still In Tact ]

9th May, 2018, 2:59 PM

Mandarin Oriental USD – [ Rare Uptrend Stock That Is Still In Tact ]
Mandarin Oriental  9th May 2018

Chart Source: Poemsview 9th May 2018

Mandarin Oriental a hotel chain that most of us would be familiar with. Our tourism sector have been churning out some good numbers so far for the year 2017. More details can be read here at our STB website

For this year STB forecasts tourism receipts to be in the range of S$27.1 to S$27.6 billion (+1 to +3%) and international visitor arrivals to be in the range of 17.6 to 18.1 million (+1 to +4%).  (Data from STB website)

With  that our hospitality sector would also tend to benefit.

Mandarin Oriental being in the hospitality sector with hotels all across the world can see it benefit from the increase in tourism too.

From the chart, Mandarin Oriental is still an uptrend stock being above all its Moving Averages. Its rare to find such a stock now.

It has broken above its $2.50 horizontal resistance line yesterday and did a re-test of the $2.50 again and is holding well now. Staying above the $2.50 level might see it might move to $2.59 then 2.63. We’ll put our stop loss at $2.42

Do take note that Man Oriental trades in USD.

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