HLT pushes through 100-day moving average
HLT finished Monday at 80.53 gaining $0.92 (1.16%). Today's closing price of 80.53 marks the highest close since March 21st. Trading up to $0.49 lower after the open, Hilton Worldwide managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending with a strong close near the high of the day sets a bullish note for the next session.
Monday's trading range was $1.07 (1.34%), that's below last trading month's daily average range of $1.99. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 78.25 and 81.33 which it has been in now for the last three days.
During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.
Prices are trading close to the key resistance level at 81.80.
The market shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. The stock managed to break above the 100-day moving average at 80.29 today for the first time since March 26th.
Buying might speed up should prices move above the nearby swing high at 81.33 where further buy stops could get triggered. Further buying might move prices higher should the market test March's close-by high at 82.54.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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|Bullish Break through SMA 100||TQ Pro Members Only|
|Close to R1 Resistance||TQ Pro Members Only|
|Bullish Intraday Reversal||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|Up Close near high of period||TQ Pro Members Only|
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