Oxford Lane Capital Corp. Stock Forecast
Oxford Lane Capital Corp. stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Oxford Lane Capital Corp. stock price gained 0.739% on the last trading day (Tuesday, 2nd Jul 2024), rising from $5.41 to $5.45. During the last trading day the stock fluctuated 1.29% from a day low at $5.41 to a day high of $5.48. The price has been going up and down for this period, and there has been a 0.37% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 360 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $21.68 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $5.39 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 11.15% during the next 3 months and, with a 90% probability hold a price between $6.00 and $6.49 at the end of this 3-month period.
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OXLC Signals & Forecast
The Oxford Lane Capital Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $5.43 and $5.45. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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, June 07, 2024, and so far it has fallen -4.22%. 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).
Support, Risk & Stop-loss for Oxford Lane Capital Corp. stock
Oxford Lane Capital Corp. finds support from accumulated volume at $5.43 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 $0.0700 between high and low, or 1.29%. For the last week the stock has had daily average volatility of 0.96%.
Our recommended stop-loss: $5.11 (-6.26%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 50 days ago.)
Trading Expectations (OXLC) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Oxford Lane Capital Corp. to open at $5.45, and during the day (based on 14 day Average True Range), to move between $5.38 and $5.52, which gives a possible trading interval of +/-$0.0734 (+/-1.35%) up or down from last closing price. If Oxford Lane Capital Corp. takes out the full calculated possible swing range there will be an estimated 2.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.46 (0.18%) than the support at $5.43 (0.37%), 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 Oxford Lane Capital Corp. stock A Buy?
Oxford Lane Capital Corp. 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: -0.279 Hold/Accumulate Upgraded
Predicted Opening Price for Oxford Lane Capital Corp. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $5.45 ( 0.0612%) | $5.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OXLC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.52 | 1.22% |
| R2 | 5.49 | 0.733% |
| R1 | 5.47 | 0.429% |
| Price | 5.45 | |
| S1 | 5.42 | -0.552% |
| S2 | 5.40 | -0.85% |
| S3 | 5.38 | -1.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.60 | 2.75% |
| R2 | 5.50 | 0.92% |
| R1 | 5.46 | 0.183% |
| Price | 5.45 | |
| S1 | 5.43 | -0.367% |
| S2 | 5.42 | -0.550% |
| S3 | 5.39 | -1.10% |
OXLC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 16, 2024 | Sep 16, 2024 | Sep 30, 2024 | $0.0900 | 1.65% |
| 2 | Aug 16, 2024 | Aug 16, 2024 | Aug 30, 2024 | $0.0900 | 1.65% |
| 3 | Jul 17, 2024 | Jul 17, 2024 | Jul 31, 2024 | $0.0900 | 1.65% |
| 4 | Jan 25, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.0800 | 1.48% |
| 5 | Jan 31, 2024 | Jun 13, 2024 | Jun 28, 2024 | $0.0800 | 1.48% |
FAQ
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