Hilton Hotels stock just pulled back to historically bullish signal
Hilton Hotels Corporation (NYSE:HLT) is down 0.4% at $146.60 this afternoon. The equity has been cooling off from a Feb. 16 record high of $160.96 over the past week -- on track for its fifth-straight loss. However, in addition to its 20.6% year-over-year lead, the stock just flashed a historically bullish signal, making now the perfect time to buy the dip on HLT.
More specifically, Hilton Hotels stock just pulled back to its 100-day moving average. According to data from Schaeffer's Senior Quantitative Analyst Rocky White, comparable moves have occurred seven times over the past three years, with the security enjoying a positive one-month return 71% of the time, while averaging a 6% pop. A similar move from its current perch would put HLT at $155.39.
A shift in sentiment among analysts could also give Hilton Hotels stock a leg up. Of the 13 in coverage, eight still call Hilton Hotels stock a tepid "hold," indicating there is plenty of room for upgrades going forward.