Oxford Lane Capital Corp 6.75 % Cum Red Stock Forecast
Oxford Lane Capital Corp 6.75 % Cum Red stock downgraded to Hold/Accumulate
(Updated on Mar 27, 2024)
The Oxford Lane Capital Corp 6.75 % Cum Red stock price fell by -0.120% on the last day (Wednesday, 27th Mar 2024) from $25.03 to $25.00. During the last trading day the stock fluctuated 0.240% from a day low at $25.00 to a day high of $25.06. The price has fallen in 6 of the last 10 days and is down by -0.25% for this period. 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 -2 thousand shares and in total, 3 thousand shares were bought and sold for approximately $70.45 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 % Cum Red stock with a 90% probability to be traded between $24.93 and $25.14 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.
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OXLCM Signals & Forecast
The Oxford Lane Capital Corp 6.75 % Cum Red 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 $24.99 and $24.99. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 0.281%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The stock had a Golden Star Signal on Monday, March 25, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, June 22, 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.
Golden Star
The stock had a Golden Star Signal on Monday, March 25, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, June 22, 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.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, March 25, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, June 22, 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 Oxford Lane Capital Corp 6.75 % Cum Red stock
Oxford Lane Capital Corp 6.75 % Cum Red finds support from accumulated volume at $24.97 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 $0.0600 between high and low, or 0.240%. For the last week the stock has had daily average volatility of 0.241%
Our recommended stop-loss: $22.92 (-8.31%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (OXLCM) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Oxford Lane Capital Corp 6.75 % Cum Red Pfd Shs Series -2024- to open at $25.02, and during the day (based on 14 day Average True Range), to move between $24.93 and $25.07, which gives a possible trading interval of +/-$0.0705 (+/-0.28%) up or down from last closing price. If Oxford Lane Capital Corp 6.75 % Cum Red Pfd Shs Series -2024- takes out the full calculated possible swing range there will be an estimated 0.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $25.02 (0.08%) than the support at $24.97 (0.12%), 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 6.75 % Cum Red Pfd Shs Series -2024- stock A Buy?
Oxford Lane Capital Corp 6.75 % Cum Red 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.044 Hold/Accumulate Downgraded
Predicted Opening Price for Oxford Lane Capital Corp 6.75 % Cum Red Pfd Shs Series -2024- of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$25.02 ( 0.0800%) | $25.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OXLCM
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 25.08 | 0.320 % | |
R2 | 25.06 | 0.228 % | ||
R1 | 25.04 | 0.172 % | ||
Current price: | 25.00 | |||
Support | S1 | 25.00 | -0.0117 % | |
S2 | 24.98 | -0.0683 % | ||
S3 | 24.96 | -0.160 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 25.06 | 0.240 % | |
R2 | 25.04 | 0.160 % | ||
R1 | 25.02 | 0.0800 % | ||
Current price | 25.00 | |||
Support | S1 | 24.97 | -0.120% | |
S2 | 24.96 | -0.160% | ||
S3 | 24.93 | -0.280% |
OXLCM Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 01, 2024 | May 16, 2024 | May 31, 2024 | $0.141 | 0.563% |
2 | Jan 31, 2024 | Apr 15, 2024 | Apr 30, 2024 | $0.141 | 0.563% |
3 | Jan 25, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.141 | 0.563% |
4 | Nov 10, 2023 | Feb 14, 2024 | Feb 29, 2024 | $0.141 | 0.562% |
5 | Oct 26, 2023 | Jan 16, 2024 | Jan 31, 2024 | $0.141 | 0.562% |
FAQ
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