That is what you would think from their stock charts. Hotel stocks are looking like every boss everywhere is about to mandate video conferencing instead of face-to-face discussions and families have all decided to go camping instead of a proper holiday this summer. Here are a few to look at.
Choice Hotels (CHH) is sitting on a support/resistance zone that has been important since last July. With a Marubozu like candle Thursday and a falling RSI and MACD the prospects are for a breakdown and continuation lower. Under 43.70 the next support shows up at 41.70 and then 39.80.
I just stayed in a Hyatt (H) the other night and it was quite pleasant, crowded and generally buzzing. But the chart shows the stock is moving lower through a support zone with a falling RSI and MACD and a gap just a few points below.
Wyndham Worldwide Corp (NYSE:WYN) is pressing on support as well. The RSI is on the edge of a move into bear territory with a MACD heading lower, both supporting the downside. and a cool 5% run to the 200 day SMA below.
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