New Mountain Finance Corporation Stock Forecast
New Mountain Finance Corporation stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on May 01, 2024)
The New Mountain Finance Corporation stock price gained 0.88% on the last trading day (Wednesday, 1st May 2024), rising from $12.57 to $12.68. During the last trading day the stock fluctuated 0.88% from a day low at $12.57 to a day high of $12.68. The price has risen in 6 of the last 10 days and is up by 2.09% over the past 2 weeks. Volume fell on the last day by -111 thousand shares and in total, 275 thousand shares were bought and sold for approximately $3.49 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockis at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $12.71 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect New Mountain Finance Corporation stock with a 90% probability to be traded between $11.98 and $12.52 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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NMFC Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -0.314%. 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). The New Mountain Finance 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 $12.67 and $12.53. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for New Mountain Finance Corporation stock
New Mountain Finance Corporation finds support from accumulated volume at $12.67 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 $0.110 between high and low, or 0.88%. For the last week the stock has had daily average volatility of 1.05%.
Our recommended stop-loss: $12.23 (-3.53%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (NMFC) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect New Mountain Finance Corporation to open at $12.64, and during the day (based on 14 day Average True Range), to move between $12.54 and $12.82, which gives a possible trading interval of +/-$0.144 (+/-1.14%) up or down from last closing price. If New Mountain Finance Corporation takes out the full calculated possible swing range there will be an estimated 2.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $12.69 (0.08%) than the support at $12.67 (0.08%), 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 New Mountain Finance Corporation stock A Buy?
New Mountain Finance 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.971 Hold/Accumulate Upgraded
Predicted Opening Price for New Mountain Finance Corporation of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $12.64 ( 0.289%) | $12.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NMFC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.75 | 0.578 % | |
| R2 | 12.71 | 0.247 % | ||
| R1 | 12.69 | 0.0422 % | ||
| Current price: | 12.68 | |||
| Support | S1 | 12.60 | -0.621 % | |
| S2 | 12.58 | -0.83 % | ||
| S3 | 12.53 | -1.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.93 | 1.97 % | |
| R2 | 12.81 | 1.03 % | ||
| R1 | 12.69 | 0.0789 % | ||
| Current price | 12.68 | |||
| Support | S1 | 12.67 | -0.0789% | |
| S2 | 12.59 | -0.710% | ||
| S3 | 12.29 | -3.08% |
NMFC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 26, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.360 | 2.84% |
| 2 | Dec 13, 2023 | Dec 21, 2023 | Dec 29, 2023 | $0.100 | 0.786% |
| 3 | Nov 02, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.320 | 2.52% |
| 4 | Jul 27, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.360 | 2.78% |
| 5 | Apr 25, 2023 | Jun 15, 2023 | Jun 30, 2023 | $0.350 | 2.81% |
FAQ
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