LaSalle Hotel Properties, a real estate investment trust (REIT), engages in the purchase, ownership, redevelopment, and leasing of primarily upscale and luxury full-service hotels in convention, resort, and urban business markets in the United States. It owns 34 hotels, totaling approximately 9,200 guest rooms in 15 markets in 11 states and the District of Columbia. The company qualifies as a REIT under the Internal Revenue Code of 1986. As a REIT, it would not be subject to federal corporate income tax to the extent that it distributes at least 90% of its taxable income to its shareholders.
Please take a look at the 1-year chart of LHO (Lasalle Hotel Properies) below with my added notations:
LHO has come down to a very important price of $32 based on two
different levels of potential support. First, the $32 level itself (red)
has simply been key to the stock on multiple occasions already. In
addition, LHO is approaching a short-term, up-trending level of support
(blue) and that trendline is also sitting at the $32 level.
The Tale of the Tape: LHO has a key area of support
at $32. A long trade could be made at $32 with a stop placed below that
level of entry. However, if the stock were to break below $32 traders
might want to look to get short on the stock.
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