Starwood Hotels is showing some very nice technical patterns and it appears ready to make a move on the all time highs.
The recent pull back off the highs was shallow and came into some support around the 80 level. Volume trends have been positive of late and the MACD is now on a strong buy signal. I’m impressed by the solid relative strength as well. This has some room to run if it moves above the resistance line (marked).
Disclosure: Lang is long HOT Nov calls.
