Hilton Hotels Stock Could Soon Conquer Technical Ceiling

The shares sport a more than 10% year-to-date lead

Digital Content Manager
Jun 15, 2023 at 3:19 PM
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Hilton Hotels Corporation (NYSE:HLT) stock is down 2.8% to trade at $139.60 at last check, as it pulls back from a rally to the $147 area, which has been a level of resistance since late April. The shares still sport a 10.2% year-to-date lead, though, and could soon attempt conquering that ceiling again, as they are now near a trendline with historically bullish implications. 

According to Schaeffer's Senior Quantitative Analyst Rocky White, Hilton Hotels stock is trading within one standard deviation of its 160-day moving average. In the past three years the equity has seen six similar signals. The equity was positive one month later after 80% of those signals, averaging a 5.6% return. A move of similar magnitude would place HLT just above $147. 

HLT 160 Day

The options pits are already bullish, per the security's 10-day call/put volume ratio of 3.03 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks higher than 93% of readings from the past year. This means calls have been picked up at a faster-than-usual rate of late. 

Premiums are affordably priced at the moment, too, making this a great opportunity to bet on Hilton Hotels stock. More specifically, the security's Schaeffer's Volatility Index (SVI) of 22% ranks at the bottom of annual readings. 

 

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