Stock of the day: Hilton

Stock of the day: Hilton
Starting off this week, our stock of the day is Hilton. Notably, it demonstrates a positive trend despite the ongoing corrections observed in global stock indices. The optimism emanates from the fact that Hilton's stock price has escaped from a symmetric triangle (marked with red lines on the chart) to the upside, and it managed to close above the upper line of this formation on Friday. In theory, this delivers a solid buy signal, especially considering the price had been trapped in this formation for over a year.
What can we anticipate now? The most probable scenario is that the price will climb towards the upper line of the flag formation (indicated by the black line on the chart). The chances of this occurring are quite substantial.

Of course, there are potential hindrances such as a larger drop or a bear market in the indices, over which Hilton has no control. Should the price revert back inside the triangle, it would indicate a false breakout and hence trigger a sell signal. However, at this moment, the odds of an upswing seem slightly more probable.
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