Booking a Long Term Stay in Choice Hotels

• Posted by Greg Harmon
• on September 24th, 2014

During the last half of August Choice hotels, $CHH, stock had an incredible run higher. 17 days in a row moving higher. Since the start of September though it has pulled back but is leveling. Will it make another 17 day run? Maybe. Take a look.

The chart above shows 3 technical reasons to look for higher prices. First, the AB=CD pattern should it continue higher from here would target a move to 60.20. Next the pullback was shallow, retracing only 38.2% of the prior leg higher. This is a sign of strength. Third the momentum indicator RSI is bottoming and settling in the bullish zone, and may be moving higher. All that is left now is for price to confirm by moving over the 53.20 trigger.

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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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