Ofs Credit Company, Inc. Stock Forecast

Ofs Credit Company, Inc. stock price down 0.113% on Monday
(Updated on Jun 24, 2024)

OCCIN Signals & Forecast

The Ofs Credit Company, Inc. 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 $23.31. On a fall, the stock will find some support from the long-term average at approximately $23.20. 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, June 17, 2024, and so far it has fallen -0.327%. Further fall is indicated until a new bottom pivot has been found. Ofs Credit Company, Inc. 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 very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Thursday, April 18, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, October 10, 2023.

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 Ofs Credit Company, Inc. stock

Ofs Credit Company, Inc. finds support from accumulated volume at $22.89 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 $0.0480 between high and low, or 0.206%. For the last week the stock has had daily average volatility of 0.216%.

Our recommended stop-loss: $22.56 (-3.06%) (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 (OCCIN) For The Upcoming Trading Day Of Tuesday 25th

For the upcoming trading day on Tuesday, 25th we expect Ofs Credit Company, Inc. to open at $23.27, and during the day (based on 14 day Average True Range), to move between $23.21 and $23.34, which gives a possible trading interval of +/-$0.0683 (+/-0.29%) up or down from last closing price. If Ofs Credit Company, Inc. takes out the full calculated possible swing range there will be an estimated 0.59% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $23.29 (0.07%) than the support at $22.89 (1.65%), 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 Ofs Credit Company, Inc. stock A Buy?

Ofs Credit Company, Inc. 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.

Current score: 0.306 Hold/Accumulate Unchanged

Predicted Opening Price for Ofs Credit Company, Inc. of Tuesday, June 25, 2024

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