HST closes within prior day's range
Host Hotels & Resorts Inc. (HST) Technical Analysis Report for Jul 31, 2020 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, HST finished the month -0.09% lower at 10.78 after losing $0.06 (-0.55%) today on high volume, notably underperforming the S&P 500 (0.77%) following Thursday's earnings report. Trading up to $0.51 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range.
Daily Candlestick Chart (HST as at Jul 31, 2020):
HST reported earnings of $-0.5 per share after Thursday's market close. With analysts having expected an EPS of $-0.26, Host Hotels & Resorts Inc. missed market expectations by -92.3%. The company's last earnings report was released on Feb. 19, 2020, when Host Hotels & Resorts Inc. reported earnings of $0.11 per share missing market expectations by -72.5%.
Friday's trading range has been $0.61 (5.67%), that's far above the last trading month's daily average range of $0.38. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for HST.
Four candlestick patterns are matching today's price action, the Bullish Hikkake Pattern which is known as bullish pattern, two bearish patterns, the Hanging Man and the Northern Doji and one neutral pattern, the Doji. The last time a Northern Doji showed up on April 30th, HST lost -7.07% on the following trading day.
The share closed back below the 20-day moving average at 10.83. After having been unable to move above 10.89 in the previous session, the market ran into sellers again around the same price level today, failing to move higher than 10.86.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Buying could accelerate should prices move above the close-by swing high at 11.04 where further buy stops might get triggered.
Among the 12 market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Doji" stand out. Although it is usually interpreted as neutral, it has actually shown to be bullish for Host Hotels. Out of 137 times, HST closed higher 51.82% of the time on the next trading day after the market condition occurred.