Host Hotels & Resorts Inc. - (HST) - March 30, 2022
Although it has been hanging around the border between the Green Favored Zone and the yellow zone in the SIA S&P 500 Index Report for the last six weeks, Host Hotels & Resorts (HST) remains in a general upward trend of increasing relative strength that started last summer. Yesterday, HST climbed 6 positions to 122nd place.
A major breakout is underway in Host Hotels (HST) shares. For nearly a year, the shares were stuck in a sideways trading range between $15.00 and $18.50. Over that time an upward trend of higher lows emerged and last month, the shares staged a bullish Ascending Triangle breakout. Although that move faltered, the shares settled into a higher $16.50 to $19.50 trading range, and yesterday HST broke out to another new high.
A close above $20.00 would confirm the start of a new advance. Should that occur, measured moves from the recent trading ranges suggest potential upside resistance near $21.50 and then $22.50 on trend. Initial support appears near $19.00.
Last month, Host Hotels (HST) staged a rare and bullish Spread Quadruple Top breakout, signaling the end of a nearly year-long period of consolidation and the start of a new advance. In the ensuing correction, the shares bottomed out at another higher low, keeping its uptrend intact. More recently, the shares have been climbing once again and have confirmed the start of a new upleg by breaking out to a new high and completing a bullish Double Top pattern.
Based on vertical and horizontal counts, next potential upside resistance appears near $21.90 then the $23.70 to $24.15 area. Initial support appears near $17.95 based on a 3-box reversal.
With a bullish SMAX score of 8, HST is exhibiting strength against the asset classes.
Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.