Blue Owl Capital Corporation Stock Forecast

Blue Owl Capital Corporation stock upgraded to Buy Candidate.
(Updated on May 17, 2024)

OBDC Signals & Forecast

The Blue Owl 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 $16.41 and $15.83. 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). 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. 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 Friday, May 10, 2024, and so far it has fallen -0.665%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Blue Owl Capital Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $15.33 and $15.30. 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, Blue Owl Capital Corporation finds support just below today's level at $15.33. If this is broken, then the next support from accumulated volume will be at $15.30 and $15.09.

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 $0.140 between high and low, or 0.86%. For the last week the stock has had daily average volatility of 1.19%.

Our recommended stop-loss: $15.88 (-3.40%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (OBDC) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Blue Owl Capital Corporation to open at $16.41, and during the day (based on 14 day Average True Range), to move between $16.24 and $16.64, which gives a possible trading interval of +/-$0.198 (+/-1.20%) up or down from last closing price. If Blue Owl Capital Corporation takes out the full calculated possible swing range there will be an estimated 2.41% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $16.45 (0.06%) than the support at $15.33 (6.75%), 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 Blue Owl 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 Blue Owl Capital Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.610 Buy Candidate Upgraded

Predicted Opening Price for Blue Owl Capital Corporation of Monday, May 20, 2024

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