RLJ Lodging Trust stock price up 2.34% on Friday
(Updated on Dec 01, 2023)
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The stock has broken the wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $10.53, a level that may pose a second chance to hit a runner. According to fan-theory $11.70 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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.
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.
Current score: 3.444 Open Broker AccountBuy Candidate Unchanged
Predicted Opening Price for RLJ Lodging Trust of Monday, December 4, 2023
The predicted opening price is based on yesterday's movements between high, low, and closing price.
|Fair opening price December 4, 2023||Current price|
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Fibonacci Support & Resistance Levels
Accumulated Volume Support & Resistance Levels
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