Ryman Hospitality Properties, Inc. owns and operates hotels in the
United States. Its Hospitality segment operates a network of
meetings-focused resorts. The company’s Opry and Attractions segment
owns and operates Nashville-based tourist attractions, including the
Grand Ole Opry, a live country music show; the Ryman Auditorium, a venue
with approximately 2,300 seats for concerts and musical productions;
the General Jackson Showboat, a 300-foot, four-deck paddle wheel
showboat on the Cumberland river; the Gaylord Springs Golf Links, a
clubhouse, which provides meeting space for approximately 500 guests;
and the Wildhorse Saloon, a country music performance venue. This
segment also operates WSM-AM, a radio broadcasting station. Ryman
Hospitality Properties, Inc. qualifies as a real estate investment trust
for federal income tax purposes.
Take a look at the 1-year chart of Ryman (NYSE: RHP) with my added notations:
RHP has been trading in a sideways range for the last 3 months.
During that period of time the stock has formed a resistance around $50
(blue). In addition, the stock has also created a clear level of support
near $46 (green). At some point the stock will have to break one of the
two levels created by RHP’s trading range.
The Tale of the Tape: RHP has a level of support at
$46 and a resistance at $50. The possible long positions on the stock
would be either on a pullback to $46, or on a breakout above $50. The
ideal short opportunity would be on a break below $46.
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