Monroe Capital Corporation Stock Forecast

Weaker technical forecast for Monroe Capital Corporation as stock downgraded to Sell Candidate.
(Updated on May 02, 2024)

MRCC Signals & Forecast

The Monroe Capital Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $7.32. On a fall, the stock will find some support from the long-term average at approximately $7.18. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Monday, April 29, 2024, and so far it has fallen -2.02%. Further fall is indicated until a new bottom pivot has been found. Monroe Capital Corporation gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The stock had a Golden Star Signal on Tuesday, April 23, 2024 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 Monroe Capital Corporation stock

Monroe Capital Corporation finds support from accumulated volume at $7.25 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 $0.150 between high and low, or 2.08%. For the last week the stock has had daily average volatility of 1.59%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

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

For the upcoming trading day on Friday, 3rd we expect Monroe Capital Corporation to open at $7.27, and during the day (based on 14 day Average True Range), to move between $7.13 and $7.41, which gives a possible trading interval of +/-$0.139 (+/-1.91%) up or down from last closing price. If Monroe Capital Corporation takes out the full calculated possible swing range there will be an estimated 3.81% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $7.28 (0.14%) than the support at $7.25 (0.28%), 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 Monroe Capital Corporation stock A Buy?

Monroe Capital Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. 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 Sell candidate.

Current score: -2.004 Sell Candidate Downgraded

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

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