Hotels, gaming, and casino stocks have been our focus over the past few weeks. Hotels in particular have rallied smartly. In addition, casino stocks show signs of concerted buying, so we will increase our exposure into the summer months.
Hotels Gaming Stocks Rally
Intercontinental Hotels (IHG) is near a pivot breakout buy zone. RS Line is climbing to new highs at 86, showing signs of a break higher. Earnings have increased over the past 4 years (left panel) and show signs of continuing into 2024. EPS is early May.
Check the other stocks breaking out on Monday, in the data window below the chart.
International Game Technology (IGT) hails from the casinos industry group, with many stocks in the group under accumulation. The stock earned a positive adjustment to its Relative Strength (RS) Rating, from 80 to 86 in recent days.
Hilton Hotels (HLT) and Marriott (MAR) have also seen institutions accumulating shares. Most importantly, both hotel stocks have moved back above their intermediate-term, 50d moving average in recent days.
When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Hilton (HLT), which had its Relative Strength (RS) Rating upgraded from 78 to 82 Monday.
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