The stock is higher as the company says it is entering Latin America's market and debuting 'W Costa Rica- Reserva Conchal,' its first tropical oasis in the region.
"As we continue to pursue aggressive expansion in Latin America, the agreement to develop W Costa Rica - Reserva Conchal is an exciting addition to our pipeline," Senior VP Jorge Giannattasio said in a statement.
The Stamford, CT-based company operates as a hotel and leisure company worldwide.
Starwood Hotels & Resorts Worldwide is showing some very nice technical patterns, and it appears ready to make a move on the all-time highs.
The recent pull back off the highs was shallow and came into some support around the $80 level.
Volume trends have been positive of late, and the Moving Average Convergence Divergence is now on a strong buy signal. We're impressed by the solid relative strength as well. This has some room to run if it moves above the resistance line (marked).
Want more like this from Bryan Ashenberg and Bob Lang BEFORE your stock moves? Learn more about Trifecta Stocks now!