EAST trade ideas
Possible reversal for Eastparc Hotel (EAST)I tried the Chart Patterns feature which was recently added to the technical analysis of the TradingView website. Then, unexpectedly, one of the patterns managed to appear in the IDX:EAST price movement in the last few months, namely the Bullish Flag. Interestingly, the current price movement has begun to approach the upper limit of the emerging bearish "flag", so a breakout may occur to continue the upward trend.
Positive sentiment from the easing of travel requirements can have a positive impact on the issuer of this hotel. The concept of the Eastparc hotel, which is also Muslim-friendly, can help keep hotel occupancy rates high during the month of Ramadan. The number of hotels owned, which there is only one, can make it easier for investors to be able to monitor the company's performance in managing their hotels.
Nearest price target to be reached is on 97 based on previous resistance with the help of fixed range volume profile. After that, if the trend continues, it may reach 108 as the previous highest pole position and up to 139 as the symmetry of the pole's price range.
