Intercontinental Hotels Group: reassuring 1H earnings

The hotel company is gaining ground following the release of its Interim results.

Uptrend 3

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

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