Great Elm Capital Corp. 8.75% Notes Due Stock Forecast

Great Elm Capital Corp. 8.75% Notes Due stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)

GECCZ Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 0.279%. Further rise is indicated until a new top pivot has been found. Great Elm Capital Corp. 8.75% Notes Due 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. 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. 8.75% Notes Due 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 $25.29. On a fall, the stock will find some support from the short-term average at $25.08. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Thursday, October 26, 2023 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 Great Elm Capital Corp. 8.75% Notes Due stock

Great Elm Capital Corp. 8.75% Notes Due finds support from accumulated volume at $25.09 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 $0.0300 between high and low, or 0.120%. For the last week the stock has had daily average volatility of 0.246%.

Our recommended stop-loss: $23.52 (-6.29%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (GECCZ) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Great Elm Capital Corp. 8.75% Notes Due 2028 to open at $25.09, and during the day (based on 14 day Average True Range), to move between $24.97 and $25.23, which gives a possible trading interval of +/-$0.134 (+/-0.53%) up or down from last closing price. If Great Elm Capital Corp. 8.75% Notes Due 2028 takes out the full calculated possible swing range there will be an estimated 1.07% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $25.09 (0.04%) than the resistance at $25.15 (0.20%), 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. 8.75% Notes Due 2028 stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Great Elm Capital Corp. 8.75% Notes Due stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.691 Buy Candidate Upgraded

Predicted Opening Price for Great Elm Capital Corp. 8.75% Notes Due 2028 of Wednesday, June 26, 2024

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