Reitierating my short thesis on $PK hotels
Multi- week wedge is forming a triple top of resistance. ST bearish wedge. The is a lot of chatter everywhere about "people are going to be staying at hotels for memorial day"...
Google search for memorial day weekend hotel prices come up and surprise.... I can still go get a hotel room for $70 a night in NYC/the beaches/ or basically anywhere for that matter.
UNHEARD OF.
RSI: 70
Buying volume fading.
Im not buying for one second that hotels are going to be back up and running and the ones that are not making enough to justify everyone getting hard on for a 3 night stay in a Hilton Spinoff.
Let this run up to $10.20 and then back down to $8.
Google search for hotels:
www.google.com/...els/park hotels?g2lb=25025...
Google search for memorial day weekend hotel prices come up and surprise.... I can still go get a hotel room for $70 a night in NYC/the beaches/ or basically anywhere for that matter.
UNHEARD OF.
RSI: 70
Buying volume fading.
Im not buying for one second that hotels are going to be back up and running and the ones that are not making enough to justify everyone getting hard on for a 3 night stay in a Hilton Spinoff.
Let this run up to $10.20 and then back down to $8.
Google search for hotels:
www.google.com/...els/park hotels?g2lb=25025...