Oxford Lane Capital Corp. 6.75% Notes Stock Forecast
Oxford Lane Capital Corp. 6.75% Notes stock upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on Jun 24, 2024)
The Oxford Lane Capital Corp. 6.75% Notes stock price gained 0.243% on the last trading day (Monday, 24th Jun 2024), rising from $23.65 to $23.71. During the last trading day the stock fluctuated 1.13% from a day low at $23.52 to a day high of $23.79. The price has fallen in 6 of the last 10 days and is down by -1% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 682 more shares were traded than the day before. In total, 3 thousand shares were bought and sold for approximately $77.06 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 $23.28 and $23.68 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 $23.75 and $23.89. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 0.243%. 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). Oxford Lane Capital Corp. 6.75% Notes has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.265 between high and low, or 1.13%. For the last week the stock has had daily average volatility of 0.737%.
Our recommended stop-loss: $22.31 (-5.89%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (OXLCL) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th 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 $23.51 and $23.91, which gives a possible trading interval of +/-$0.199 (+/-0.84%) 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 1.68% 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 (0.11%) than the resistance at $23.90 (0.80%), 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 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: -0.940 Hold/Accumulate Upgraded
Predicted Opening Price for Oxford Lane Capital Corp. 6.75% Notes Due 2031 of Tuesday, June 25, 2024
Fair opening price June 25, 2024 | Current price |
---|---|
$23.67 ( 0.162%) | $23.71 |
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 | 23.94 | 0.96% |
R2 | 23.84 | 0.529% |
R1 | 23.77 | 0.265% |
Price | 23.71 | |
S1 | 23.57 | -0.589% |
S2 | 23.51 | -0.85% |
S3 | 23.41 | -1.28% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 24.05 | 1.43% |
R2 | 24.00 | 1.22% |
R1 | 23.90 | 0.80% |
Price | 23.71 | |
S1 | 23.69 | -0.105% |
S2 | 23.67 | -0.169% |
S3 | 23.64 | -0.316% |
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% |
FAQ
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