Orchid Island Capital Stock Forecast
Orchid Island Capital stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The Orchid Island Capital stock price gained 3.93% on the last trading day (Friday, 26th Apr 2024), rising from $8.39 to $8.72. During the last trading day the stock fluctuated 4.78% from a day low at $8.37 to a day high of $8.77. The price has risen in 6 of the last 10 days and is up by 3.93% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $18.33 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.42% during the next 3 months and, with a 90% probability hold a price between $8.42 and $9.42 at the end of this 3-month period.
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ORC Signals & Forecast
Mostly positive signals in the chart today. The Orchid Island Capital 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 $8.44 and $8.61. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 7.65%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Orchid Island Capital stock
Orchid Island Capital finds support from accumulated volume at $8.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.400 between high and low, or 4.78%. For the last week, the stock has had daily average volatility of 2.86%.
Our recommended stop-loss: $8.36 (-4.12%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (ORC) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Orchid Island Capital Inc to open at $8.62, and during the day (based on 14 day Average True Range), to move between $8.50 and $8.94, which gives a possible trading interval of +/-$0.220 (+/-2.52%) up or down from last closing price. If Orchid Island Capital Inc takes out the full calculated possible swing range there will be an estimated 5.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.77 (0.57%) than the support at $8.58 (1.61%), 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 Orchid Island Capital Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Orchid Island Capital stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.643 Buy Candidate Upgraded
Predicted Opening Price for Orchid Island Capital Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $8.62 ( 1.15%) | $8.72 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ORC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.02 | 3.44 % | |
| R2 | 8.87 | 1.69 % | ||
| R1 | 8.77 | 0.606 % | ||
| Current price: | 8.72 | |||
| Support | S1 | 8.47 | -2.90 % | |
| S2 | 8.37 | -3.98 % | ||
| S3 | 8.22 | -5.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.93 | 2.41 % | |
| R2 | 8.90 | 2.06 % | ||
| R1 | 8.77 | 0.573 % | ||
| Current price | 8.72 | |||
| Support | S1 | 8.58 | -1.61% | |
| S2 | 8.27 | -5.16% | ||
| S3 | 7.98 | -8.49% |
ORC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 10, 2024 | Apr 29, 2024 | May 30, 2024 | $0.120 | 1.37% |
| 2 | Mar 27, 2024 | Mar 27, 2024 | Apr 26, 2024 | $0.120 | 1.37% |
| 3 | Feb 28, 2024 | Feb 28, 2024 | Mar 26, 2024 | $0.120 | 1.37% |
| 4 | Jan 10, 2024 | Jan 30, 2024 | Feb 27, 2024 | $0.120 | 1.41% |
| 5 | Dec 12, 2023 | Dec 28, 2023 | Jan 29, 2024 | $0.120 | 1.38% |
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