Trade Ideas: WXH

Bill Cara wrote a good piece on today's action as afternoon buying pushed the indices away from recent lows (and in the case of the Russell 2000 and S&P, the 200-day MA) on higher volume.

The Trade Ideas scan showed good breadth over the course of the day. One stock to keep an eye on is WXH. The stock sits a few cents shy of a break of $11.39 resistance. A move to $11.50 would trigger a point-n-figure ascending triple top breakout with a current target of $21.00. The REIT sports a 5.4% yield.

Winston Hotels, Inc., a real estate investment trust, engages in the ownership and development of hotel properties. As of December 31, 2005, the company owned or invested in 56 hotel properties in 17 states with an aggregate of 7,668 rooms. As of the above date, its properties included 49 wholly owned properties with an aggregate of 6,720 rooms; a 60% ownership interest in 1 joint venture hotel with 138 rooms; a 49% ownership interest in 1 joint venture hotel with 118 rooms; a 48.78% ownership interest in 1 joint venture hotel with 147 rooms; and a 13.05% ownership interest in 4 joint venture hotels with an aggregate of 545 rooms. The company qualifies as a real estate investment trust for federal income tax purposes. The trust generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. Winston Hotels was founded in 1988 and is headquartered in Raleigh, North Carolina.

If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.

Popular posts from this blog

Nasdaq primed for breakout

S&P "Bull Trap"?

"Black Candlesticks" are a concern for the S&P and Nasdaq


Show more