PennantPark Floating Rate Capital Ltd. Stock Forecast
Green day on Tuesday for PennantPark Floating Rate Capital Ltd. stock after gaining 0.96%
(Updated on May 07, 2024)
The PennantPark Floating Rate Capital Ltd. stock price gained 0.96% on the last trading day (Tuesday, 7th May 2024), rising from $11.50 to $11.61. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.39% from a day low at $11.46 to a day high of $11.62. The price has been going up and down for this period, and there has been a 0.61% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 79 thousand more shares were traded than the day before. In total, 644 thousand shares were bought and sold for approximately $7.48 million.
The stock has broken the narrow and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $11.56 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach $12.02 sometime during the next 3 months.
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PFLT Signals & Forecast
Mostly positive signals in the chart today. The PennantPark Floating Rate Capital Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $11.43 and $11.32. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 2.74%. 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. The stock had a Golden Star Signal on Thursday, April 18, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, June 02, 2023.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Thursday, April 18, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, June 02, 2023.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Thursday, April 18, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, June 02, 2023.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for PennantPark Floating Rate Capital Ltd. stock
PennantPark Floating Rate Capital Ltd. finds support from accumulated volume at $11.45 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 $0.159 between high and low, or 1.39%. For the last week the stock has had daily average volatility of 1.52%.
Our recommended stop-loss: $11.07 (-4.65%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (PFLT) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect PennantPark Floating Rate Capital Ltd. to open at $11.56, and during the day (based on 14 day Average True Range), to move between $11.45 and $11.77, which gives a possible trading interval of +/-$0.164 (+/-1.41%) up or down from last closing price. If PennantPark Floating Rate Capital Ltd. takes out the full calculated possible swing range there will be an estimated 2.83% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $11.45, some $0.160 (1.38%) from the current price of $11.61, our system finds the risk reward attractive.
Earnings coming up
PennantPark Floating Rate Capital Ltd. will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.330. We will update the financials statements for PennantPark Floating Rate Capital Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.80% in the first trading day after earnings release.
Is PennantPark Floating Rate Capital Ltd. stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for PennantPark Floating Rate Capital Ltd. stock to perform well in the short-term period.
Current score: 3.793 Buy Candidate Unchanged
Predicted Opening Price for PennantPark Floating Rate Capital Ltd. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $11.56 ( 0.405%) | $11.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PFLT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.72 | 0.96 % | |
| R2 | 11.66 | 0.442 % | ||
| R1 | 11.62 | 0.118 % | ||
| Current price: | 11.61 | |||
| Support | S1 | 11.50 | -0.93 % | |
| S2 | 11.46 | -1.25 % | ||
| S3 | 11.40 | -1.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 11.61 | |||
| Support | S1 | 11.45 | -1.38% | |
| S2 | 11.39 | -1.89% | ||
| S3 | 11.38 | -1.98% |
PFLT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 02, 2024 | May 14, 2024 | Jun 03, 2024 | $0.103 | 0.88% |
| 2 | Apr 12, 2024 | Apr 12, 2024 | May 01, 2024 | $0.103 | 0.90% |
| 3 | Mar 04, 2024 | Mar 15, 2024 | Apr 01, 2024 | $0.103 | 0.92% |
| 4 | Feb 14, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.103 | 0.90% |
| 5 | Jan 03, 2024 | Jan 12, 2024 | Feb 01, 2024 | $0.103 | 0.91% |
FAQ
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