RLJ Lodging Trust Stock Forecast

RLJ Signals & Forecast

Mostly positive signals in the chart today. The RLJ Lodging Trust stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $10.61 and $10.01. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, November 09, 2023, and so far it has risen 11.41%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

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Support, Risk & Stop-loss for RLJ Lodging Trust stock

RLJ Lodging Trust finds support from accumulated volume at $10.63 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.360 between high and low, or 3.40%. For the last week, the stock has had daily average volatility of 2.32%.

The RLJ Lodging Trust stock is extremely overbought on RSI14 (82). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: $10.53 (-3.72%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 15 days ago.)

Trading Expectations (RLJ) For The Upcoming Trading Day Of Monday 4th

For the upcoming trading day on Monday, 4th we expect RLJ Lodging Trust to open at $10.83, and during the day (based on 14 day Average True Range), to move between $10.69 and $11.19, which gives a possible trading interval of +/-$0.251 (+/-2.29%) up or down from last closing price. If RLJ Lodging Trust takes out the full calculated possible swing range there will be an estimated 4.59% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $10.63, some $0.310 (2.83%) from the current price of $10.94, our system finds the risk reward attractive.

Is RLJ Lodging Trust stock A Buy?

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for RLJ Lodging Trust stock to perform well in the short-term period.

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