Sotherly Hotels Inc. 7.875% Series C Stock Forecast

Weaker technical forecast for Sotherly Hotels Inc. 7.875% Series C as stock downgraded to Hold/Accumulate.
(Updated on Apr 25, 2024)

SOHOO Signals & Forecast

The Sotherly Hotels Inc. 7.875% Series C stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $18.63 and $18.89. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -0.779%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Sotherly Hotels Inc. 7.875% Series C stock

Sotherly Hotels Inc. 7.875% Series C finds support from accumulated volume at $19.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.580 between high and low, or 3.09%. For the last week the stock has had daily average volatility of 3.90%

Our recommended stop-loss: $18.29 (-4.24%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (SOHOO) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Sotherly Hotels Inc. 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock to open at $19.06, and during the day (based on 14 day Average True Range), to move between $18.48 and $19.72, which gives a possible trading interval of +/-$0.615 (+/-3.22%) up or down from last closing price. If Sotherly Hotels Inc. 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock takes out the full calculated possible swing range there will be an estimated 6.44% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $19.09 (0.05%) than the resistance at $19.25 (0.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sotherly Hotels Inc. 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock stock A Buy?

Sotherly Hotels Inc. 7.875% Series C holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.415 Hold/Accumulate Downgraded

Predicted Opening Price for Sotherly Hotels Inc. 7.875% Series C Cumulative Redeemable Perpetual Preferred Stock of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.