Oxford Lane Capital Corp 6.75 % Cum Red Stock Forecast

Oxford Lane Capital Corp 6.75 % Cum Red stock price ended at $24.99 on Friday, after gaining 0.171%.
(Updated on Apr 26, 2024)

OXLCM Signals & Forecast

There are mixed signals in the stock today. The Oxford Lane Capital Corp 6.75 % Cum Red stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $25.00. On a fall, the stock will find some support from the short-term average at $24.96. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. 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 Monday, April 15, 2024, and so far it has risen 0.369%. Further rise is indicated until a new top pivot has been found. 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 $0.0530 between high and low, or 0.213%. For the last week the stock has had daily average volatility of 0.199%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (OXLCM) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Oxford Lane Capital Corp 6.75 % Cum Red Pfd Shs Series -2024- to open at $24.98, and during the day (based on 14 day Average True Range), to move between $24.94 and $25.05, which gives a possible trading interval of +/-$0.0573 (+/-0.23%) 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 0.46% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $25.00 (0.03%) than the support at $24.97 (0.09%), 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 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: -1.360 Sell Candidate Unchanged

Predicted Opening Price for Oxford Lane Capital Corp 6.75 % Cum Red Pfd Shs Series -2024- of Monday, April 29, 2024

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