Saratoga Investment Corp 8.00% Stock Forecast
Weaker technical forecast for Saratoga Investment Corp 8.00% as stock downgraded to Sell Candidate.
(Updated on Jun 21, 2024)
The Saratoga Investment Corp 8.00% stock price fell by -0.120% on the last day (Friday, 21st Jun 2024) from $25.06 to $25.03. During the last trading day the stock fluctuated 0.207% from a day low at $25.03 to a day high of $25.08. The price has fallen in 5 of the last 10 days and is down by -0.44% for this period. Volume has increased on the last day by 804 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 thousand shares were bought and sold for approximately $49.68 thousand.
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 Saratoga Investment Corp 8.00% stock with a 90% probability to be traded between $24.68 and $25.24 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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SAJ Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Saratoga Investment Corp 8.00% 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 $25.04 and $25.09. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -0.438%. Further fall is indicated until a new bottom pivot has been found. Saratoga Investment Corp 8.00% gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Friday, May 31, 2024 in the short-term chart.
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 Friday, May 31, 2024 in the short-term chart.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 buy signal from a double bottom formation was found on Wednesday, May 29, 2024 and based on theory for this formation the price should go up by 2.80% to $25.73 within 28 trading days since signal was issued (Wednesday, July 10, 2024).
Support, Risk & Stop-loss for Saratoga Investment Corp 8.00% stock
Saratoga Investment Corp 8.00% finds support from accumulated volume at $24.99 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 $0.0517 between high and low, or 0.207%. For the last week the stock has had daily average volatility of 0.0854%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SAJ) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Saratoga Investment Corp 8.00% to open at $25.05, and during the day (based on 14 day Average True Range), to move between $24.94 and $25.12, which gives a possible trading interval of +/-$0.0891 (+/-0.36%) up or down from last closing price. If Saratoga Investment Corp 8.00% takes out the full calculated possible swing range there will be an estimated 0.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $25.06 (0.12%) than the support at $24.99 (0.14%), 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.
Is Saratoga Investment Corp 8.00% stock A Buy?
Saratoga Investment Corp 8.00% holds several negative signals and is within a narrow and 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.479 Sell Candidate Downgraded
Predicted Opening Price for Saratoga Investment Corp 8.00% of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $25.05 ( 0.0689%) | $25.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAJ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.10 | 0.275% |
| R2 | 25.08 | 0.196% |
| R1 | 25.07 | 0.148% |
| Price | 25.03 | |
| S1 | 25.03 | -0.0101% |
| S2 | 25.02 | -0.0588% |
| S3 | 25.00 | -0.138% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.10 | 0.280% |
| R2 | 25.08 | 0.200% |
| R1 | 25.06 | 0.120% |
| Price | 25.03 | |
| S1 | 24.99 | -0.144% |
| S2 | 24.87 | -0.639% |
| S3 | 24.82 | -0.84% |
SAJ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 15, 2024 | Aug 15, 2024 | Sep 03, 2024 | $0.500 | 2.00% |
| 2 | May 14, 2024 | May 14, 2024 | May 31, 2024 | $0.500 | 2.00% |
| 3 | Feb 14, 2024 | Feb 14, 2024 | Feb 28, 2024 | $0.500 | 2.00% |
| 4 | Nov 14, 2023 | Nov 14, 2023 | Nov 30, 2023 | $0.500 | 1.98% |
| 5 | Aug 14, 2023 | Aug 14, 2023 | Aug 31, 2023 | $0.500 | 1.99% |
FAQ
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