Oxford Lane Capital Corp. 6.75% Notes Stock Forecast
Oxford Lane Capital Corp. 6.75% Notes stock price down 0.0004% on Thursday
(Updated on Jun 20, 2024)
The Oxford Lane Capital Corp. 6.75% Notes stock price fell by -0.0004% on the last day (Thursday, 20th Jun 2024) from $23.70 to $23.70. During the last trading day the stock fluctuated 0.381% from a day low at $23.61 to a day high of $23.70. The price has been going up and down for this period, and there has been a -0.71% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 thousand shares and in total, 906 shares were bought and sold for approximately $21.47 thousand.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Oxford Lane Capital Corp. 6.75% Notes stock with a 90% probability to be traded between $23.31 and $23.70 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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OXLCL Signals & Forecast
There are mixed signals in the stock today. The Oxford Lane Capital Corp. 6.75% Notes stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $23.82 and $23.91. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 0.0629%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
A buy signal from a double bottom formation was found on Friday, June 14, 2024 and based on theory for this formation the price should go up by 0.240% to $23.76 within 10 trading days since signal was issued (Friday, June 21, 2024).
Support, Risk & Stop-loss for Oxford Lane Capital Corp. 6.75% Notes stock
Oxford Lane Capital Corp. 6.75% Notes finds support from accumulated volume at $23.69 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0899 between high and low, or 0.381%. For the last week the stock has had daily average volatility of 0.87%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OXLCL) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Oxford Lane Capital Corp. 6.75% Notes Due 2031 to open at $23.67, and during the day (based on 14 day Average True Range), to move between $23.50 and $23.90, which gives a possible trading interval of +/-$0.201 (+/-0.85%) up or down from last closing price. If Oxford Lane Capital Corp. 6.75% Notes Due 2031 takes out the full calculated possible swing range there will be an estimated 1.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $23.69 (0.06%) than the resistance at $23.90 (0.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Oxford Lane Capital Corp. 6.75% Notes Due 2031 stock A Buy?
Oxford Lane Capital Corp. 6.75% Notes 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.
Current score: -1.415 Sell Candidate Unchanged
Predicted Opening Price for Oxford Lane Capital Corp. 6.75% Notes Due 2031 of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $23.67 ( 0.126%) | $23.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OXLCL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.76 | 0.253% |
| R2 | 23.73 | 0.108% |
| R1 | 23.70 | 0.0185% |
| Price | 23.70 | |
| S1 | 23.64 | -0.271% |
| S2 | 23.61 | -0.361% |
| S3 | 23.58 | -0.506% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.05 | 1.48% |
| R2 | 24.00 | 1.27% |
| R1 | 23.90 | 0.84% |
| Price | 23.70 | |
| S1 | 23.69 | -0.0629% |
| S2 | 23.67 | -0.126% |
| S3 | 23.64 | -0.274% |
OXLCL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 18, 2023 | Dec 13, 2024 | Dec 31, 2024 | $0.422 | 1.78% |
| 2 | Dec 15, 2023 | Sep 13, 2024 | Sep 30, 2024 | $0.422 | 1.78% |
| 3 | Jun 14, 2024 | Jun 14, 2024 | Jul 01, 2024 | $0.422 | 1.78% |
| 4 | Mar 11, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.422 | 1.76% |
| 5 | Dec 14, 2023 | Dec 14, 2023 | Jan 02, 2024 | $0.422 | 1.79% |
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