City Lodge Hotels analysis
CLH showing a gradual increase from peak bottom of R2.30 and currently sitting at R4.00.
In increase from this point to R6.00 resistance would yield a 50% increase although it would be a long risky ride. Share price is still a fraction of what it once was but lets not forget the share price has been on a downtrend even before the first covid lock downs. The all eyes are on vaccine roll out s the bet or the gamble would be on a covid free world and increase in tourism traffic which is almost likely to happen. Seeing the levels at which CLH as maintained this low being very reluctant to go below R2.30, this could be a lucrative bet. I would be doing a fundamental analysis later on to see the full picture wether it would be worth the risk of jumping in. But overall i have a positive feeling.
In increase from this point to R6.00 resistance would yield a 50% increase although it would be a long risky ride. Share price is still a fraction of what it once was but lets not forget the share price has been on a downtrend even before the first covid lock downs. The all eyes are on vaccine roll out s the bet or the gamble would be on a covid free world and increase in tourism traffic which is almost likely to happen. Seeing the levels at which CLH as maintained this low being very reluctant to go below R2.30, this could be a lucrative bet. I would be doing a fundamental analysis later on to see the full picture wether it would be worth the risk of jumping in. But overall i have a positive feeling.
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