With so much money printed and QE causing asset price inflation, some of that money has been used to front-run in the hotel space that is not hitting key multiple resistance areas. Buying up hotels at such valuations as if hotel occupancy rate will exceed Jan 2020 is a joke. www.statista.com CAR (Avis) is experiencing something similar simultaneously Price...
IHG is trading in a strong long term uptrend. The shares have corrected lower in recent weeks but buying support has been found at the previous break out level, which is now support. The correction is also inline with a 38.2% Fibonacci support level adding further weight to the bullish argument. Further upside is expected over the short to medium term.
All at screen, price come back (drawing flag) to few zones. Waiting for clear situations. Now still down trend at lower TF. Good luck :)