Hunting Hyatt

Hyatt Hotels (H) is approaching a major support area. The stock has been very weak over the past two weeks, and as September comes to a close, Hyatt is testing the August lows. This recent fade is part of an eight-week consolidation that has been in place since August began. For patient Hyatt bulls, the stock is entering a very low-risk entry zone.

Hyatt exploded to the upside back on July 31 after reporting a blowout second quarter. News of higher daily rates and improved occupancy sparked a 6% breakout. The stock moved to new 52-week highs, taking out very heavy supply near the $43.00 area in the process. The gains continued on Aug. 1 with another 3% jump, but the stock quickly stalled. In the two months that followed Hyatt moved sideways to lower during an eight-week consolidation....95 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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