Gladstone Capital Corporation Stock Forecast

Evaluation of Gladstone Capital Corporation stock downgraded after the last trading session.
(Updated on Apr 26, 2024)

GLAD Signals & Forecast

The Gladstone Capital Corporation 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 $21.16 and $15.10. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 118.88%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Thursday, April 04, 2024 with a target of $10.17. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.

Support, Risk & Stop-loss for Gladstone Capital Corporation stock

Gladstone Capital Corporation finds support from accumulated volume at $20.62 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.390 between high and low, or 1.84%. For the last week, the stock has had daily average volatility of 1.23%.

The Gladstone Capital Corporation stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $20.72 (-3.38%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (GLAD) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Gladstone Capital Corporation to open at $21.39, and during the day (based on 14 day Average True Range), to move between $20.94 and $21.96, which gives a possible trading interval of +/-$0.509 (+/-2.37%) up or down from last closing price. If Gladstone Capital Corporation takes out the full calculated possible swing range there will be an estimated 4.74% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $20.62, some $0.83 (3.87%) from the current price of $21.45, our system finds the risk reward attractive.

Is Gladstone Capital Corporation stock A Buy?

Gladstone Capital Corporation 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

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 Gladstone Capital Corporation of Monday, April 29, 2024

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