Reversal Watch: Intercontinental Hotels Group (LSE:IHG)

After exiting an inverse head and shoulders pattern which began in May 2015 and ended in July 2016, the price action for IHG has returned to its long-term upward trend, as can be seen in the chart below.

However, the price has now risen significantly above the long-term trend resistance line, indicating that a correction may be on the cards in the near future. Although my reversal indicators are not yet indicating a turnaround.

Based on the companies regulatory news, IHG is not engaging in share buybacks, therefore a short position won't have to deal with the company trying desperately to goose the share price, like Experian.