Wondrela Holidays
All signs of a should-avoid stock!
Many a times technical -analysis skills can help you to keep away from highly recommended, highly tracked ,high pedigree stocks.
This one falls in that category.
A quick look at the monthly chart can tell you a lot of things
a) Look at the size of the upper wicks of the candles ! Sellers come running in as soon as it tries to move up.
b) A storng resistance ( red line) , that happened to be a support -level till Dec 19.
c) RSI never went above 60 on monthly charts for the past 5 years- above 60 RSI indicates that there is momentum in buying interest .
c) All upside movement from Covid -lows is overlapping, no clear impulse wave ( as per EW)
On weekly chart – as per stage analysis, lot of up & down movement around key moving averages (10WMA,30 WMA) , Not able to break the trading range for ast one year.
In short – Basic technical-analysis skills can help oone person to stay away from traps.
Disclaimer : Charts are for study purpose only. Opinions are personal, can go wrong. No suggestions ,no recommendations.
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