Intercontinental Hotels Group: reassuring 1H earnings
Jean-Christophe Rolland August 11, 2020 8:38 AM
The hotel company is gaining ground following the release of its Interim results.
Intercontinental Hotels Group is well oriented this morning after saying that "2Q free cash flow was broadly neutral, resulting from strong cash management." Moreover, 1H results were broadly matching the trading update released late June.
From a chartist point of view, prices escape from a declining triangle drawn since early June. The stock now trades above its 50-day MA while the RSI is well oriented above 50. As long as 3345 remains support, a new up leg would be anticipated with next resistances at 4336 and then 5147.
Source : TradingVIEW, Gain Capital
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.