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  • Writer's pictureT. Livingston

TH Forms A High Tight Flag

Target Hospitality, TH, looks to be forming a high tight flag pattern. While the market has been correcting over the last few months, we have seen a few pockets of strength starting to develop, including the hotel lodging space. This makes sense being that most people are looking to put COVID-19 behind them and start to travel again. Marriott (MAR) emerged today to a new price high as did Hilton Worldwide (HLT). This bodes well for other stocks in this same group such as Target Hospitality.

While I usually avoid lower priced stocks, it is difficult to ignore TH's impressive price action. After moving from $2.75 to $6.25 in less than one month, TH has been consolidating incredibly well. I particularly like the consistent support near the 23-day ema. This is similar to the action we have seen in LNTH and OXY over the last month or so. I will be looking to purchase TH should it clear recent resistance with conviction.

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Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.


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