Oxford Lane Capital Corp. Stock Forecast
Oxford Lane Capital Corp. stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Apr 19, 2024)
The Oxford Lane Capital Corp. stock price fell by -0.225% on the last day (Friday, 19th Apr 2024) from $22.20 to $22.15. During the last trading day the stock fluctuated 1.26% from a day low at $22.15 to a day high of $22.43. The price has fallen in 6 of the last 10 days and is down by -0.63% 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 -1 thousand shares and in total, 544 shares were bought and sold for approximately $12.05 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. stock with a 90% probability to be traded between $21.54 and $22.19 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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OXLCO Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 1.05%. 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. The Oxford Lane Capital Corp. 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 $22.16. On a fall, the stock will find some support from the short-term average at $22.09. 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 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 Tuesday, August 01, 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 Tuesday, August 01, 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 Tuesday, August 01, 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. stock
Oxford Lane Capital Corp. finds support from accumulated volume at $22.10 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 $0.278 between high and low, or 1.26%. For the last week the stock has had daily average volatility of 0.90%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OXLCO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Oxford Lane Capital Corp. to open at $22.24, and during the day (based on 14 day Average True Range), to move between $21.98 and $22.32, which gives a possible trading interval of +/-$0.172 (+/-0.78%) 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 1.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $22.10 (0.23%) than the resistance at $22.24 (0.41%), 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. stock A Buy?
Oxford Lane Capital Corp. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.011 Sell Candidate Downgraded
Predicted Opening Price for Oxford Lane Capital Corp. of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$22.24 ( 0.418%) | $22.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OXLCO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.52 | 1.67 % | |
R2 | 22.41 | 1.19 % | ||
R1 | 22.35 | 0.90 % | ||
Current price: | 22.15 | |||
Support | S1 | 22.14 | -0.0611 % | |
S2 | 22.07 | -0.357 % | ||
S3 | 21.96 | -0.84 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.36 | 0.95 % | |
R2 | 22.25 | 0.451 % | ||
R1 | 22.24 | 0.406 % | ||
Current price | 22.15 | |||
Support | S1 | 22.10 | -0.226% | |
S2 | 22.02 | -0.587% | ||
S3 | 22.00 | -0.660% |
OXLCO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 01, 2024 | May 16, 2024 | May 31, 2024 | $0.125 | 0.564% |
2 | Jan 31, 2024 | Apr 15, 2024 | Apr 30, 2024 | $0.125 | 0.564% |
3 | Jan 25, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.125 | 0.562% |
4 | Nov 10, 2023 | Feb 14, 2024 | Feb 29, 2024 | $0.125 | 0.563% |
5 | Oct 26, 2023 | Jan 16, 2024 | Jan 31, 2024 | $0.125 | 0.562% |
FAQ
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