Momentum Trades — EIH Ltd & Whirlpool

Here are my stock trades/set-up explanations & charts!

Photo by Isaac Smith on Unsplash

Trade Date: 17 March 2022

EIH LTD:

How and Why do I trade EIH Ltd today?

1. The MACD and Stochastics set up on the daily chart were looking promising.

2. Hotels, as a sector, are doing well.

3. RSI was above 50, which gave me some confidence

4. MACD had a Golden Cross (GC) below the zero line

5. Volume was picking up and went above its moving average

EIH trading in a range, and one can also draw symmetric or ascending triangles.

With a risk/reward ratio of at least 2, I will be positioning a stop loss at about 3.5% and expecting about 7% if the trade goes in the right direction.