Royce Micro-Cap Trust Inc Stock Forecast
Royce Micro-Cap Trust Inc stock price ended at $8.62 on Thursday, after losing 0.81%.
(Updated on Apr 18, 2024)
The Royce Micro-Cap Trust Inc stock price fell by -0.81% on the last day (Thursday, 18th Apr 2024) from $8.69 to $8.62. During the last trading day the stock fluctuated 1.51% from a day low at $8.60 to a day high of $8.73. The price has fallen in 5 of the last 10 days and is down by -5.69% 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, 127 thousand shares were bought and sold for approximately $1.10 million.
The stock has broken the horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $8.97 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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RMT Signals & Forecast
There are few to no technical positive signals at the moment. The Royce Micro-Cap Trust Inc 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 $8.85 and $9.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -8.78%. Further fall is indicated until a new bottom pivot has been found. 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.
A sell signal from a double top formation was found on Thursday, March 28, 2024 with a target of $8.67. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for Royce Micro-Cap Trust Inc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have controlled movements and therefore the general risk is considered 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 $0.130 between high and low, or 1.51%. For the last week the stock has had daily average volatility of 2.13%.
Royce Micro-Cap Trust Inc is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RMT) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Royce Micro-Cap Trust Inc to open at $8.65, and during the day (based on 14 day Average True Range), to move between $8.47 and $8.77, which gives a possible trading interval of +/-$0.148 (+/-1.72%) up or down from last closing price. If Royce Micro-Cap Trust Inc takes out the full calculated possible swing range there will be an estimated 3.45% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $9.01, some $0.390 (4.52%) from the current price of $8.62, our system finds the risk reward not very attractive.
Is Royce Micro-Cap Trust Inc stock A Buy?
Royce Micro-Cap Trust Inc holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.130 Sell Candidate Unchanged
Predicted Opening Price for Royce Micro-Cap Trust Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $8.65 ( 0.348%) | $8.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RMT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.78 | 1.86 % | |
| R2 | 8.73 | 1.28 % | ||
| R1 | 8.70 | 0.92 % | ||
| Current price: | 8.62 | |||
| Support | S1 | 8.60 | -0.228 % | |
| S2 | 8.57 | -0.584 % | ||
| S3 | 8.52 | -1.16 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.28 | 7.66 % | |
| R2 | 9.17 | 6.38 % | ||
| R1 | 9.01 | 4.52 % | ||
| Current price | 8.62 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
RMT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 01, 2024 | Mar 08, 2024 | Mar 22, 2024 | $0.170 | 1.84% |
| 2 | Dec 01, 2023 | Dec 08, 2023 | Dec 22, 2023 | $0.220 | 2.38% |
| 3 | Sep 01, 2023 | Sep 08, 2023 | Sep 22, 2023 | $0.170 | 2.06% |
| 4 | Jun 01, 2023 | Jun 09, 2023 | Jun 23, 2023 | $0.170 | 2.00% |
| 5 | Mar 01, 2023 | Mar 10, 2023 | Mar 24, 2023 | $0.180 | 2.13% |
FAQ
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