Great Elm Capital Corp 6.75 % Notes Stock Forecast

Stronger technical forecast for Great Elm Capital Corp 6.75 % Notes stock price after Friday trading.
(Updated on Apr 19, 2024)

GECCM Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 0.642%. 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 gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Great Elm Capital Corp 6.75 % Notes stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $25.10. On a fall, the stock will find some support from the short-term average at $25.03. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. The stock had a Golden Star Signal on Monday, January 29, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, January 29, 2024.

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 Great Elm Capital Corp 6.75 % Notes stock

Great Elm Capital Corp 6.75 % Notes finds support from accumulated volume at $25.05 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 $0.0150 between high and low, or 0.0598%. For the last week the stock has had daily average volatility of 0.172%.

Our recommended stop-loss: $22.95 (-8.45%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (GECCM) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Great Elm Capital Corp 6.75 % Notes 2018-31.01.25 to open at $25.08, and during the day (based on 14 day Average True Range), to move between $24.95 and $25.19, which gives a possible trading interval of +/-$0.117 (+/-0.46%) up or down from last closing price. If Great Elm Capital Corp 6.75 % Notes 2018-31.01.25 takes out the full calculated possible swing range there will be an estimated 0.93% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $25.05 (0.08%) than the resistance at $25.10 (0.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Great Elm Capital Corp 6.75 % Notes 2018-31.01.25 stock A Buy?

Great Elm Capital Corp 6.75 % Notes holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Great Elm Capital Corp 6.75 % Notes 2018-31.01.25 of Monday, April 22, 2024

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