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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