Portman Ridge Finance Corporation Stock Forecast
Green day on Wednesday for Portman Ridge Finance Corporation stock after gaining 0.721%
(Updated on Apr 24, 2024)
The Portman Ridge Finance Corporation stock price gained 0.721% on the last trading day (Wednesday, 24th Apr 2024), rising from $19.41 to $19.55. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.13% from a day low at $19.38 to a day high of $19.60. The price has risen in 7 of the last 10 days and is up by 1.61% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 34 thousand more shares were traded than the day before. In total, 44 thousand shares were bought and sold for approximately $855.53 thousand.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.43% during the next 3 months and, with a 90% probability hold a price between $19.43 and $20.42 at the end of this 3-month period.
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PTMN Signals & Forecast
Mostly positive signals in the chart today. The Portman Ridge Finance Corporation 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 $19.22 and $19.07. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 3.06%. 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.
A buy signal from a double bottom formation was found on Thursday, February 29, 2024 with a target of $18.88. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Portman Ridge Finance Corporation stock
Portman Ridge Finance Corporation finds support from accumulated volume at $19.50 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 1.13%. For the last week the stock has had daily average volatility of 1.28%.
Our recommended stop-loss: $18.62 (-4.74%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (PTMN) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Portman Ridge Finance Corporation to open at $19.51, and during the day (based on 14 day Average True Range), to move between $19.25 and $19.85, which gives a possible trading interval of +/-$0.304 (+/-1.55%) 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 3.11% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $19.50, some $0.0500 (0.26%) from the current price of $19.55, our system finds the risk reward attractive.
Is Portman Ridge Finance Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Portman Ridge Finance Corporation stock to perform well in the short-term.
Current score: 4.352 Buy Candidate Unchanged
Predicted Opening Price for Portman Ridge Finance Corporation of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $19.51 ( 0.205%) | $19.55 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 19.73 | 0.92 % | |
| R2 | 19.65 | 0.490 % | ||
| R1 | 19.59 | 0.225 % | ||
| Current price: | 19.55 | |||
| Support | S1 | 19.43 | -0.634 % | |
| S2 | 19.37 | -0.90 % | ||
| S3 | 19.29 | -1.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 19.55 | |||
| Support | S1 | 19.50 | -0.256% | |
| S2 | 19.16 | -1.99% | ||
| S3 | 19.10 | -2.30% |
PTMN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 22, 2024 | Mar 22, 2024 | Mar 22, 2024 | $0 | 0% |
| 2 | Nov 08, 2023 | Nov 17, 2023 | Nov 30, 2023 | $0.690 | 4.11% |
| 3 | Aug 09, 2023 | Aug 21, 2023 | Aug 31, 2023 | $0.690 | 3.48% |
| 4 | May 19, 2023 | May 19, 2023 | May 31, 2023 | $0.690 | 3.59% |
| 5 | Jun 16, 2023 | Mar 17, 2023 | Mar 31, 2023 | $0.680 | 3.30% |
FAQ
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