Source Capital Inc Stock Forecast
Source Capital Inc stock downgraded to Sell Candidate
(Updated on Apr 18, 2024)
The Source Capital Inc stock price gained 0.487% on the last trading day (Thursday, 18th Apr 2024), rising from $41.06 to $41.26. During the last trading day the stock fluctuated 1.12% from a day low at $41.06 to a day high of $41.52. The price has fallen in 6 of the last 10 days and is down by -1.9% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 7 thousand shares were bought and sold for approximately $276.11 thousand.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $41.10 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 5.80% during the next 3 months and, with a 90% probability hold a price between $43.48 and $45.75 at the end of this 3-month period.
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SOR Signals & Forecast
Source Capital Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Source Capital Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $41.41 and $41.86. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -3.49%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Source Capital Inc stock
Source Capital Inc finds support from accumulated volume at $41.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.460 between high and low, or 1.12%. For the last week the stock has had daily average volatility of 1.15%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SOR) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Source Capital Inc to open at $41.28, and during the day (based on 14 day Average True Range), to move between $40.72 and $41.80, which gives a possible trading interval of +/-$0.540 (+/-1.31%) up or down from last closing price. If Source Capital Inc takes out the full calculated possible swing range there will be an estimated 2.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $41.00 (0.63%) than the resistance at $41.85 (1.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Source Capital Inc stock A Buy?
The Source Capital Inc stock holds several negative signals and despite the positive trend, we believe Source Capital Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.039 Sell Candidate Downgraded
Predicted Opening Price for Source Capital Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $41.28 ( 0.0485%) | $41.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.74 | 1.16 % | |
| R2 | 41.56 | 0.737 % | ||
| R1 | 41.46 | 0.474 % | ||
| Current price: | 41.26 | |||
| Support | S1 | 41.10 | -0.377 % | |
| S2 | 41.00 | -0.641 % | ||
| S3 | 40.82 | -1.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 42.49 | 2.98 % | |
| R2 | 41.96 | 1.70 % | ||
| R1 | 41.85 | 1.43 % | ||
| Current price | 41.26 | |||
| Support | S1 | 41.00 | -0.630% | |
| S2 | 40.50 | -1.84% | ||
| S3 | 40.28 | -2.38% |
SOR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 26, 2024 | May 15, 2024 | May 31, 2024 | $0.208 | 0.502% |
| 2 | Jan 25, 2024 | Apr 17, 2024 | Apr 30, 2024 | $0.208 | 0.502% |
| 3 | Jan 23, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.208 | 0.490% |
| 4 | Dec 07, 2023 | Feb 15, 2024 | Feb 29, 2024 | $0.208 | 0.507% |
| 5 | Jan 16, 2024 | Jan 16, 2024 | Jan 31, 2024 | $0.208 | 0.521% |
FAQ
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