Solar Capital Ltd. Stock Forecast

Red day on Wednesday for Solar Capital Ltd. stock after losing 0.310%
(Updated on May 15, 2024)

SLRC Signals & Forecast

The Solar 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 $15.95 and $15.36. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -0.80%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Friday, April 19, 2024 in the long-term chart.

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 Solar Capital Ltd. stock

On the downside, the stock finds support just below today's level from accumulated volume at $15.13 and $15.08. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Solar Capital Ltd. finds support just below today's level at $15.13. If this is broken, then the next support from accumulated volume will be at $15.08 and $14.87.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.160 (1.00%) between high and low. For the last week, the stock has had daily average volatility of 1.36%.

Our recommended stop-loss: $15.63 (-2.81%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (SLRC) For The Upcoming Trading Day Of Thursday 16th

For the upcoming trading day on Thursday, 16th we expect Solar Capital Ltd. to open at $16.13, and during the day (based on 14 day Average True Range), to move between $15.89 and $16.27, which gives a possible trading interval of +/-$0.185 (+/-1.15%) up or down from last closing price. If Solar Capital Ltd. takes out the full calculated possible swing range there will be an estimated 2.31% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $16.13 (0.31%) than the support at $15.13 (5.91%), 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 Solar Capital Ltd. 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 Solar Capital Ltd. stock to perform well in the short-term.

Current score: 3.792 Buy Candidate Unchanged

Predicted Opening Price for Solar Capital Ltd. of Thursday, May 16, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.