RSI low/high Values: [ 25 - 80 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of INN
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Summit Hotel Properties Inc stock upgraded from Sell Candidate to Buy Candidate after Wednesday trading session.
(Updated on Mar 27, 2024)

Buy candidate since Mar 27, 2024 PDF

The Summit Hotel Properties Inc stock price gained 2.37% on the last trading day (Wednesday, 27th Mar 2024), rising from $6.32 to $6.47. During the last trading day the stock fluctuated 2.35% from a day low at $6.37 to a day high of $6.52. The price has risen in 6 of the last 10 days and is up by 1.89% over the past 2 weeks. Volume fell on the last day by -74 thousand shares and in total, 657 thousand shares were bought and sold for approximately $4.25 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $6.54 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -5.90% during the next 3 months and, with a 90% probability hold a price between $5.74 and $6.15 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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INN Signals & Forecast

The Summit Hotel Properties Inc 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 $6.36 and $6.44. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 15, 2024, and so far it has risen 4.35%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Summit Hotel Properties Inc stock

Summit Hotel Properties Inc finds support from accumulated volume at $6.44 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.150 between high and low, or 2.35%. For the last week the stock has had daily average volatility of 2.36%.

Our recommended stop-loss: $6.19 (-4.33%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (INN) For The Upcoming Trading Day Of Thursday 28th

For the upcoming trading day on Thursday, 28th we expect Summit Hotel Properties Inc to open at $6.45, and during the day (based on 14 day Average True Range), to move between $6.31 and $6.63, which gives a possible trading interval of +/-$0.161 (+/-2.48%) 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 4.97% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $6.48 (0.15%) than the support at $6.44 (0.46%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Summit Hotel Properties Inc stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.507 Buy Candidate Upgraded

Predicted Opening Price for Summit Hotel Properties Inc of Thursday, March 28, 2024

Fair opening price March 28, 2024 Current price
$6.45 ( 0.258%) $6.47

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 6.60 2.06 %
R2 6.55 1.18 %
R1 6.51 0.628 %
Current price: 6.47
Support S1 6.40 -1.14 %
S2 6.36 -1.69 %
S3 6.30 -2.58 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 6.67 3.09 %
R2 6.61 2.16 %
R1 6.48 0.155 %
Current price 6.47
Support S1 6.44 -0.464%
S2 6.38 -1.39%
S3 6.31 -2.47%

INN Dividend Payout History


# Declaration Date 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

What is the symbol for Summit Hotel Properties Inc Stock and on which exchange is it traded?
The symbol for Summit Hotel Properties Inc is INN and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Summit Hotel Properties Inc Stock?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

How to buy Summit Hotel Properties Inc Stock?
Summit Hotel Properties Inc Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Summit Hotel Properties Inc Stock.

What's the current price of Summit Hotel Properties Inc Stock?
As of the end of day on the 2024-03-27, the price of an Summit Hotel Properties Inc (INN) share was $6.47.

What is the 52-week high and low for Summit Hotel Properties Inc Stock?
The 52-week high for Summit Hotel Properties Inc Stock is $7.25 and the 52-week low is $5.31.

What is the market capitalization of Summit Hotel Properties Inc Stock?
As of the 2024-03-27, the market capitalization of Summit Hotel Properties Inc is 679.988M.

When is the next earnings date for Summit Hotel Properties Inc?
The upcoming earnings date for Summit Hotel Properties Inc is May 01, 2024.
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About Summit Hotel Properties Inc

Summit Hotel Properties Summit Hotel Properties, Inc. is a publicly traded real estate investment trust focused on owning premium-branded hotels with efficient operating models primarily in the Upscale segment of the lodging industry. As of November 3, 2020, the Company's portfolio consisted of 72 hotels, 67 of which are wholly owned, with a total of 11,288 guestrooms located in 23 states.... INN Profile

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