PK trade ideas
PK - travel and leisure bearishAgain the theme is less risk in current Macroeconomic environment. Travel numbers have been going down which doesn't bode well for travel and leisure. As always the ratio of our trades are paramont. This is a good spot to make some money on a trade that played out quite nicely in the past.
$PK - Park Hotels and ResortsThe recent earnings were fairly good, and I believe the current price reflects market fear regarding the "delta-variant".
I like $PK at current levels and will continue to accumulate shares (with a 1 month to year-end time frame).
I see it swinging between the S1 and R1 pivots points ($17.00 - $21.50) between now and Q1 2022.
The only thing I know for sure about the delta-variant, is that media has a bad news bias in reporting Covid, and the matter is over politicized.
$PK will be headline sensitive until there is more certainty.
Last thought, at approximately a $4B market cap, wouldn't this be a takeover candidate if the price gets much lower .... or take private candidate.
$PK Park Hotels Recovery Trade Setup
Potential entry above $19.00 at which
point the stock will have cleared channel resistance and the Fibonacci Golden pocket.
The next resistance to consider as Take Profit will be the major pivot point @ $21.65.
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