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RLJ (RLJ Lodging Trust) may reap gains as insiders became active recently

RLJ Lodging Trust’s recent filing unveils that its Director Collins Arthur Reginald unloaded Company’s shares for reported $0.3 million on Dec 22 ’23. In the deal valued at $11.92 per share,25,000 shares were sold. As a result of this transaction, Collins Arthur Reginald now holds 30,758 shares worth roughly $0.32 million.

Then, DAVIS NATHANIEL A sold 39,594 shares, generating $390,793 in total proceeds. Upon selling the shares at $9.87, the Director now owns 43,423 shares.

Wolfe Research initiated its RLJ Lodging Trust [RLJ] rating to an Outperform in a research note published on January 10, 2024; the price target was $15. A number of analysts have revised their coverage, including Oppenheimer’s analysts, who increased its forecast for the stock in late November from “a Perform” to “an Outperform”. Oppenheimer also remained covering RLJ and has decreased its forecast on July 20, 2023 with a “Perform” recommendation from previously “an Outperform” rating. Oppenheimer started covering the stock on April 22, 2022. It rated RLJ as “an Outperform”.

Price Performance Review of RLJ

On Monday, RLJ Lodging Trust [NYSE:RLJ] saw its stock jump 0.29% to $10.36. Over the last five days, the stock has lost -3.18%. RLJ Lodging Trust shares have fallen nearly -11.60% since the year began. Nevertheless, the stocks have fallen -0.91% over the past one year. While a 52-week high of $12.39 was reached on 03/06/24, a 52-week low of $9.00 was recorded on 05/09/24. SMA at 50 days reached $11.46, while 200 days put it at $10.82. A total of 0.91 million shares were traded, compared to the trading of 1.22 million shares in the previous session.

Levels Of Support And Resistance For RLJ Stock

The 24-hour chart illustrates a support level at 10.27, which if violated will result in even more drops to 10.18. On the upside, there is a resistance level at 10.47. A further resistance level may holdings at 10.58. The Relative Strength Index (RSI) on the 14-day chart is 26.54, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.42, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 93.10%. Stochastics %K at 6.47% indicates the stock is a buying.

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