Hotel Stocks Are Now On My Radar

As we all know, the travel related sectors have been some of the hardest hit stocks in the marketplace. Airlines, cruise lines, travel websites, hotels and most restaurant stocks have been decimated lately. Either some of the stocks in this industry group are on sale or they are going bust. My bet is that they are on sale at this stage of the game.

ON WATCH: Hilton Worldwide Holdings Inc (NYSE:HLT) is a stock that is now on my radar as a potential long-side trade. This stock made a low on March 18, 2020 at $44.30 a share. Since that low pivot, the shares rallied up to the 20-day moving average at $78.45 a share and has now pullback again. Today, HLT is trading around the $63.57 level. The daily chart is also making a possible higher low and that is often the start of a bull pattern. Over the course over the next week or so I will be looking for a consolidation pattern to form. This usually indicates further upside for the stock. I will be keeping this stock on my radar going forward. Some other stocks in the sector that I will also be monitoring are Marriott International, Inc. (MAR), Hyatt Hotels Corporation (H), and Choice Hotels International, Inc. (CHH).

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