Host Hotels & Resorts: HST Stock Is Exhibiting a Bearish Outlook

• Host Hotels is scheduled to release its third-quarter report on November 1.
• HST stock slid about 10% over the past month. 
• The HST stock price is trading at $15.42, with a gain of 0.23% during the intraday session.

Host Hotels & Resort Inc. (NASDAQ: HST) stock has been in a bullish trend since the beginning of 2023, forming higher highs and lows. The trend was halted when the price achieved an annual high of $19.42. The high triggered a drop in the price, which resulted in a break of the upward trend. Bears pushed the HST stock price towards the annual low of $14.51, constantly forming lower lows while being in a downtrend. The bearish trend shattered the price by roughly 23.30%, where no bullish interruption was observed, as the price movement was continuously downwards. 

After achieving an annual low, the HST stock price bounced up, moving to recover from the previous losses. However, the bullish rally exceptionally elevated the price but failed to recover the losses. Hence, the long march of bulls led to the formation of the $18.57 resistance level on July 31, 2023. 

Host Hotels announced its negative second quarter report on August 2, 2023, which reversed the ongoing uptrend. Hence, the price plummeted about 14% while depicting a declining swing. The stock did try to retest the $18.57 mark, but the active participation of bears near the $16.60 level didn’t let the price rise above it. 

The price once again entered a downtrend channel, forming lower lows and highs, which led to the formation of a recent support level at $14.92. Currently, the HST stock price is $15.42, while witnessing a gain of 0.23% during the intraday session.  The current market scenario represents a bearish outlook, and if it remains constant, the price might melt toward the annual low of $14.51. On the contrary, if bulls snatched control from the bears, the price might surge towards the $16.00 mark.  Moreover, the company is scheduled to release its Q3 report tomorrow (November 1, 2023), which might change the current price trajectory.

Will Bearish Outlook Melt the Price Further?

During the global pandemic, the hotel industry received the hardest blow due to the quarantine periods, travel restrictions, and closing boards, which led hospitality and tourism businesses to suffer tremendous losses. However, after travel restrictions were lifted, the tourism and hotel industry witnessed a massive boom. Despite this, some companies have found it difficult to recover their losses, and this includes Host Hotels & Resorts Inc. 

HST stock is currently hovering beneath all the major exponential moving averages (EMAs), which denotes the mass participation of sellers in the market. The RSI has dragged below the 50-neutral zone, and the CMF is also witnessing a breakout from the 0 mark, which indicates vigorous weakness and bearish dominance. 

Conclusion

The market structure and price action of Host Hotels (NASDAQ: HST) stock suggest that the price is currently in a bearish grip. However, the market participants are eagerly waiting for the upcoming Q3 report, which is scheduled to be announced on Wednesday, November 1, 2023.

Technical Levels 

• Major resistance: $18.57 and $19.42
• Major support: $14.51 and $14.92

Disclaimer

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