Main Street Capital Corporation Stock Forecast

Evaluation of Main Street Capital Corporation stock downgraded after the last trading session.
(Updated on May 02, 2024)

MAIN Signals & Forecast

The Main Street 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 $49.42 and $47.42. 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 Wednesday, May 01, 2024, and so far it has fallen -0.518%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Main Street Capital Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $47.01 and $45.02. 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, Main Street Capital Corporation finds support just below today's level at $47.01. If this is broken, then the next support from accumulated volume will be at $45.02 and $44.88.

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 $0.642 (1.29%) between high and low. For the last week, the stock has had daily average volatility of 1.06%.

The Main Street 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 and the RSI is still moving upwards. 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: $48.13 (-3.54%) (This stock has low daily movements and this gives low risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (MAIN) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Main Street Capital Corporation to open at $50.02, and during the day (based on 14 day Average True Range), to move between $49.34 and $50.44, which gives a possible trading interval of +/-$0.553 (+/-1.11%) up or down from last closing price. If Main Street Capital Corporation takes out the full calculated possible swing range there will be an estimated 2.22% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $50.15 (0.52%) than the support at $47.01 (5.77%), 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 Main Street Capital Corporation 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 Main Street Capital Corporation stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 3.435 Buy Candidate Downgraded

Predicted Opening Price for Main Street Capital Corporation of Friday, May 3, 2024

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