Portman Ridge Finance Corporation Stock Forecast
Portman Ridge Finance Corporation stock price up 0.0522% on Tuesday
(Updated on Jun 25, 2024)
The Portman Ridge Finance Corporation stock price gained 0.0522% on the last trading day (Tuesday, 25th Jun 2024), rising from $19.14 to $19.15. During the last trading day the stock fluctuated 0.89% from a day low at $19.13 to a day high of $19.30. The price has fallen in 4 of the last 10 days and is down by -1.34% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 21 thousand shares were bought and sold for approximately $395.72 thousand.
The stock has broken the weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $19.15. A reaction back to this level may hold a second chance to get out before further falls.
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PTMN Signals & Forecast
There are mixed signals in the stock today. The Portman Ridge Finance Corporation 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 $19.25 and $19.58. 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 0.0522%. 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). Portman Ridge Finance Corporation 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. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Portman Ridge Finance Corporation stock
Portman Ridge Finance Corporation finds support from accumulated volume at $19.14 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 $0.170 between high and low, or 0.89%. For the last week the stock has had daily average volatility of 1.22%.
Our recommended stop-loss: $17.91 (-6.45%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (PTMN) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Portman Ridge Finance Corporation to open at $19.19, and during the day (based on 14 day Average True Range), to move between $18.87 and $19.43, which gives a possible trading interval of +/-$0.283 (+/-1.48%) up or down from last closing price. If Portman Ridge Finance Corporation takes out the full calculated possible swing range there will be an estimated 2.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $19.14 (0.05%) than the resistance at $19.16 (0.05%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Portman Ridge Finance Corporation stock A Buy?
Portman Ridge Finance Corporation 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.
Current score: 0.146 Hold/Accumulate Unchanged
Predicted Opening Price for Portman Ridge Finance Corporation of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $19.19 ( 0.226%) | $19.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PTMN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 19.36 | 1.11% |
| R2 | 19.30 | 0.775% |
| R1 | 19.26 | 0.565% |
| Price | 19.15 | |
| S1 | 19.13 | -0.113% |
| S2 | 19.09 | -0.322% |
| S3 | 19.02 | -0.661% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.49 | 7.00% |
| R2 | 19.55 | 2.09% |
| R1 | 19.16 | 0.0522% |
| Price | 19.15 | |
| S1 | 19.14 | -0.0522% |
| S2 | 19.12 | -0.157% |
| S3 | 18.98 | -0.89% |
PTMN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 20, 2024 | May 20, 2024 | May 31, 2024 | $0.690 | 3.47% |
| 2 | Mar 13, 2024 | Mar 22, 2024 | Apr 02, 2024 | $0.690 | 3.61% |
| 3 | Nov 08, 2023 | Nov 17, 2023 | Nov 30, 2023 | $0.690 | 4.11% |
| 4 | Aug 09, 2023 | Aug 21, 2023 | Aug 31, 2023 | $0.690 | 3.48% |
| 5 | May 19, 2023 | May 19, 2023 | May 31, 2023 | $0.690 | 3.59% |
FAQ
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