Summit Hotel Properties Inc Stock Forecast
Red day on Thursday for Summit Hotel Properties Inc stock after losing 3.19%
(Updated on Apr 25, 2024)
The Summit Hotel Properties Inc stock price fell by -3.19% on the last day (Thursday, 25th Apr 2024) from $6.27 to $6.07. During the last trading day the stock fluctuated 3.14% from a day low at $6.06 to a day high of $6.25. The price has fallen in 7 of the last 10 days and is down by -8.03% for this period. Volume has increased on the last day by 15 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 511 thousand shares were bought and sold for approximately $3.10 million.
The stock lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $6.04 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -4.68% during the next 3 months and, with a 90% probability hold a price between $5.76 and $6.25 at the end of this 3-month period.
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INN Signals & Forecast
There are few to no technical positive signals at the moment. The Summit Hotel Properties Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $6.20 and $6.36. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -8.31%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Summit Hotel Properties Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.190 (3.14%) between high and low. For the last week, the stock has had daily average volatility of 2.25%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (INN) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Summit Hotel Properties Inc to open at $6.13, and during the day (based on 14 day Average True Range), to move between $5.91 and $6.23, which gives a possible trading interval of +/-$0.157 (+/-2.59%) up or down from last closing price. If Summit Hotel Properties Inc takes out the full calculated possible swing range there will be an estimated 5.19% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $6.42, some $0.350 (5.77%) from the current price of $6.07, our system finds the risk reward not very attractive.
Earnings coming up
Summit Hotel Properties Inc will release earnings BMO on Wednesday, May 01, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.200. We will update the financials statements for Summit Hotel Properties Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.80% in the first trading day after earnings release.
Is Summit Hotel Properties Inc stock A Buy?
Summit Hotel Properties Inc holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.509 Sell Candidate Unchanged
Predicted Opening Price for Summit Hotel Properties Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $6.13 ( 0.93%) | $6.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.32 | 4.06 % | |
| R2 | 6.24 | 2.87 % | ||
| R1 | 6.20 | 2.13 % | ||
| Current price: | 6.07 | |||
| Support | S1 | 6.05 | -0.262 % | |
| S2 | 6.01 | -1.00 % | ||
| S3 | 5.94 | -2.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.57 | 8.24 % | |
| R2 | 6.49 | 6.92 % | ||
| R1 | 6.42 | 5.77 % | ||
| Current price | 6.07 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
INN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 25, 2024 | Feb 14, 2024 | Feb 29, 2024 | $0.0600 | 0.93% |
| 2 | Oct 26, 2023 | Nov 15, 2023 | Nov 30, 2023 | $0.0600 | 0.96% |
| 3 | Jul 27, 2023 | Aug 16, 2023 | Aug 31, 2023 | $0.0600 | 1.03% |
| 4 | Apr 27, 2023 | May 16, 2023 | May 31, 2023 | $0.0600 | 0.92% |
| 5 | Jan 26, 2023 | Feb 13, 2023 | Feb 28, 2023 | $0.0400 | 0.541% |
FAQ
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