Hilton Hotels at an All Time High
I’ve been sniffing around the markets lately and checking in on Hilton Hotels (HLT). Hilton and all the rest of the hospitality stocks and industries took a big hit during COVID. My bright idea was to buy Hilton and a few other stocks hoping to make some mad money. In the case of Hilton, that bet has paid off.
Right now Hilton Hotels is hitting an all-time high. I’m a big fan of stocks making all-time highs because they tend to keep trending higher against almost all odds. My personal opinion is that people are sick and tired of AirBnB with their onerous terms to rent. It’s much easier to rent a hotel room and let others clean it and cater to your every need.
There are some notes of caution though, especially when I read the chart. Hilton made its all-time high last Friday at $168.29, but with a doji candlestick, and on low volume. That candlestick pattern, for those that divine in candlesticks, is a cautionary tale.
It’s something to make a note of if you’re a short-term or swing trader. Yes, it made a new high but it might mean that traders feel the momentum could be slowing. Add in the seasonal effects that HLT has experienced to this point and it could mean a pullback from here.
Hilton could stall or go higher from here, it’s hard to predict because there are a lot of Bulls and Bears vying for control. The market wants to believe in a soft landing and a Santa Claus rally; only time will tell if that will pass. In the meantime, HLT remains part of my long-term holding portfolio.