Add as a preferred source on GoogleVail Resorts Shares Test $160 Resistance as Ski Season Nears
The shares have moved back above their 50-day and 200-day moving averages, but chart technician Jay Woods says a move above $160 is needed to confirm a potential bottom pattern.
Vail Resorts shares are approaching $160 resistance as the ski season nears, with chart technician Jay Woods, CMT, calling a break above that level necessary to confirm a potential bottom pattern.
The stock has moved back above its 50-day and 200-day moving averages. Woods also pointed to a higher low after the latest decline and a break above a downtrend that began in 2021. He described the chart as showing “a nice ramp forming.”
Woods identified $160 as the price level needed to confirm an inverted head-and-shoulders pattern. The latest rally has run into resistance around that mark, leaving the pattern unconfirmed.
Vail Resorts operates Vail Mountain, Park City Mountain and Whistler Blackcomb. After several uneven winters, including historically poor snowfall in the West last season, management sees resort earnings recovering. The snow outlook offers some encouragement for the company’s Tahoe properties, while Colorado’s forecast remains mixed.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.