PennantPark Floating Rate Capital Ltd. Stock Forecast
Green day on Friday for PennantPark Floating Rate Capital Ltd. stock after gaining 0.708%
(Updated on May 03, 2024)
The PennantPark Floating Rate Capital Ltd. stock price gained 0.708% on the last trading day (Friday, 3rd May 2024), rising from $11.30 to $11.38. During the last trading day the stock fluctuated 1.96% from a day low at $11.25 to a day high of $11.47. The price has been going up and down for this period, and there has been a 0.09% gain for the last 2 weeks. Volume fell on the last day by -164 thousand shares and in total, 778 thousand shares were bought and sold for approximately $8.85 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 PennantPark Floating Rate Capital Ltd. stock with a 90% probability to be traded between $11.16 and $11.61 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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PFLT Signals & Forecast
Mostly positive signals in the chart today. The PennantPark Floating Rate Capital Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $11.40. On a fall, the stock will find some support from the long-term average at approximately $11.29. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 0.708%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Thursday, April 18, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, June 02, 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 Thursday, April 18, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, June 02, 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 Thursday, April 18, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, June 02, 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.
A sell signal from a double top formation was found on Tuesday, February 27, 2024 and based on theory for this formation the price should fall by -1.69% to $11.19 within 10 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for PennantPark Floating Rate Capital Ltd. stock
PennantPark Floating Rate Capital Ltd. finds support from accumulated volume at $11.30 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 $0.220 between high and low, or 1.96%. For the last week the stock has had daily average volatility of 1.84%.
Our recommended stop-loss: $10.81 (-4.99%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (PFLT) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect PennantPark Floating Rate Capital Ltd. to open at $11.36, and during the day (based on 14 day Average True Range), to move between $11.21 and $11.55, which gives a possible trading interval of +/-$0.168 (+/-1.48%) up or down from last closing price. If PennantPark Floating Rate Capital Ltd. takes out the full calculated possible swing range there will be an estimated 2.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.39 (0.09%) than the support at $11.30 (0.70%), 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.
Earnings coming up
PennantPark Floating Rate Capital Ltd. will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.330. We will update the financials statements for PennantPark Floating Rate Capital Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.80% in the first trading day after earnings release.
Is PennantPark Floating Rate Capital Ltd. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for PennantPark Floating Rate Capital Ltd. stock to perform well in the short-term period.
Current score: 3.215 Buy Candidate Unchanged
Predicted Opening Price for PennantPark Floating Rate Capital Ltd. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $11.36 ( 0.146%) | $11.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PFLT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.58 | 1.79 % | |
| R2 | 11.50 | 1.05 % | ||
| R1 | 11.45 | 0.592 % | ||
| Current price: | 11.38 | |||
| Support | S1 | 11.28 | -0.88 % | |
| S2 | 11.23 | -1.34 % | ||
| S3 | 11.14 | -2.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.45 | 0.615 % | |
| R2 | 11.43 | 0.439 % | ||
| R1 | 11.39 | 0.0879 % | ||
| Current price | 11.38 | |||
| Support | S1 | 11.30 | -0.703% | |
| S2 | 11.26 | -1.05% | ||
| S3 | 11.20 | -1.58% |
PFLT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 12, 2024 | Apr 12, 2024 | May 01, 2024 | $0.103 | 0.90% |
| 2 | Mar 04, 2024 | Mar 15, 2024 | Apr 01, 2024 | $0.103 | 0.92% |
| 3 | Feb 14, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.103 | 0.90% |
| 4 | Jan 03, 2024 | Jan 12, 2024 | Feb 01, 2024 | $0.103 | 0.91% |
| 5 | Dec 04, 2023 | Dec 15, 2023 | Jan 02, 2024 | $0.103 | 0.85% |
FAQ
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