Portman Ridge Finance Corporation Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Portman Ridge Finance Corporation stock price after Friday trading.
(Updated on May 03, 2024)
The Portman Ridge Finance Corporation stock price gained 0.89% on the last trading day (Friday, 3rd May 2024), rising from $19.15 to $19.32. During the last trading day the stock fluctuated 1.61% from a day low at $19.22 to a day high of $19.53. The price has risen in 7 of the last 10 days and is up by 0.73% 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, 10 thousand more shares were traded than the day before. In total, 20 thousand shares were bought and sold for approximately $381.44 thousand.
The stock lies in the middle of a narrow and 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 5.12% during the next 3 months and, with a 90% probability hold a price between $20.03 and $20.82 at the end of this 3-month period.
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PTMN Signals & Forecast
The Portman Ridge Finance Corporation 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 $19.40. On a fall, the stock will find some support from the long-term average at approximately $19.18. 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. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -2.13%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Portman Ridge Finance Corporation stock
Portman Ridge Finance Corporation finds support from accumulated volume at $19.16 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 $0.310 between high and low, or 1.61%. For the last week the stock has had daily average volatility of 2.30%.
Our recommended stop-loss: $18.44 (-4.54%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (PTMN) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Portman Ridge Finance Corporation to open at $19.36, and during the day (based on 14 day Average True Range), to move between $18.97 and $19.67, which gives a possible trading interval of +/-$0.346 (+/-1.79%) 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 3.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $19.34 (0.10%) than the support at $19.16 (0.83%), 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
Portman Ridge Finance Corporation will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.740. We will update the financials statements for Portman Ridge Finance Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.06% in the first trading day after earnings release.
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.159 Hold/Accumulate Upgraded
Predicted Opening Price for Portman Ridge Finance Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $19.36 ( 0.189%) | $19.32 |
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 | 19.67 | 1.79 % | |
| R2 | 19.55 | 1.18 % | ||
| R1 | 19.47 | 0.80 % | ||
| Current price: | 19.32 | |||
| Support | S1 | 19.24 | -0.423 % | |
| S2 | 19.17 | -0.80 % | ||
| S3 | 19.05 | -1.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.55 | 1.19 % | |
| R2 | 19.50 | 0.93 % | ||
| R1 | 19.34 | 0.104 % | ||
| Current price | 19.32 | |||
| Support | S1 | 19.16 | -0.83% | |
| S2 | 19.10 | -1.14% | ||
| S3 | 18.70 | -3.21% |
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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