Medley Capital ETF Forecast

Hold candidate since Apr 17, 2019 Loss -18.71%

The Medley Capital Corporation ETF price fell by -3.84% on the last day (Monday, 20th Apr 2020) from $21.33 to $20.51. During the last trading day the ETF fluctuated 4.15% from a day low at $20.50 to a day high of $21.35. The price has fallen in 6 of the last 10 days and is down by -17.96% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -7 thousand shares and in total, 3 thousand shares were bought and sold for approximately $70.47 thousand.

The ETF lies in the lower of a narrow and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $20.45 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -3.12% during the next 3 months and, with a 90% probability hold a price between $19.81 and $20.62 at the end of this 3-month period.

MCX Signals & Forecast

There are few to no technical positive signals at the moment. The Medley Capital Corporation ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the ETF. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $22.26 and $24.55. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, November 30, -0001. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Medley Capital Corporation ETF

There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.

In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.85 between high and low, or 4.15%. For the last week the ETF has had daily average volatility of 3.44%

Our recommended stop-loss: $1.03 (-5.00%) (Unable to calculate.)

Trading Expectations (MCX) For The Upcoming Trading Day Of Tuesday 21st

With no support below and resistance from accumulated volume @ $21.13, some $0.622 (3.03%) from the current price of $20.51, our system finds the risk reward not very attractive.

Is Medley Capital Corporation ETF A Buy?

Medley Capital Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

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 Fair Opening Price

Predicted fair opening price on April 21, 2020 - $20.79 ( 1.35%).

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