Sachem Capital Corp. 7.75% Note ETF Forecast
Sachem Capital Corp. 7.75% Note ETF upgraded to Buy Candidate.
(Updated on Jul 02, 2024)
The Sachem Capital Corp. 7.75% Note ETF price gained 0.81% on the last trading day (Tuesday, 2nd Jul 2024), rising from $24.80 to $25.00. During the last trading day the ETF fluctuated 1.01% from a day low at $24.80 to a day high of $25.05. The price has risen in 7 of the last 10 days and is up by 1.17% over the past 2 weeks. Volume fell on the last day by -57 shares and in total, 10 thousand shares were bought and sold for approximately $254.35 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF has broken the narrow and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. $24.84 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the ETF is predicted to reach $25.22 sometime during the next 3 months.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SCCC Signals & Forecast
The Sachem Capital Corp. 7.75% Note ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $24.78 and $24.85. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 28, 2024, and so far it has risen 1.92%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The ETF had a Golden Star Signal on Wednesday, May 15, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, January 03, 2024.
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 ETF in question.
Golden Star
The ETF had a Golden Star Signal on Wednesday, May 15, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, January 03, 2024.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 ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Wednesday, May 15, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, January 03, 2024.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 ETF in question.
A buy signal from a double bottom formation was found on Friday, June 28, 2024 with a target of $24.71. Despite whether the objective of the signal formation has been reached the ETF may continue to perform well.
Support, Risk & Stop-loss for Sachem Capital Corp. 7.75% Note ETF
Sachem Capital Corp. 7.75% Note finds support from accumulated volume at $24.89 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.250 between high and low, or 1.01%. For the last week the ETF has had daily average volatility of 1.38%
Our recommended stop-loss: $23.73 (-5.08%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (SCCC) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Sachem Capital Corp. 7.75% Note to open at $24.95, and during the day (based on 14 day Average True Range), to move between $24.76 and $25.24, which gives a possible trading interval of +/-$0.240 (+/-0.96%) up or down from last closing price. If Sachem Capital Corp. 7.75% Note takes out the full calculated possible swing range there will be an estimated 1.92% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $24.89, some $0.110 (0.44%) from the current price of $25.00, our system finds the risk reward attractive.
Is Sachem Capital Corp. 7.75% Note ETF A Buy?
Several short-term signals are positive and the ETF has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Sachem Capital Corp. 7.75% Note ETF to perform well in the short-term period. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 1.469 Buy Candidate Upgraded
Predicted Opening Price for Sachem Capital Corp. 7.75% Note of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $24.95 ( 0.200%) | $25.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCCC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.20 | 0.800% |
| R2 | 25.10 | 0.418% |
| R1 | 25.05 | 0.182% |
| Price | 25.00 | |
| S1 | 24.85 | -0.582% |
| S2 | 24.80 | -0.82% |
| S3 | 24.70 | -1.20% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 25.00 | |
| S1 | 24.89 | -0.440% |
| S2 | 24.80 | -0.80% |
| S3 | 24.53 | -1.88% |
SCCC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jun 14, 2024 | Jul 01, 2024 | $0.484 | 1.95% |
| 2 | Mar 14, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.484 | 1.95% |
| 3 | Dec 14, 2023 | Dec 14, 2023 | Jan 02, 2024 | $0.484 | 2.01% |
| 4 | Sep 14, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.484 | 2.05% |
| 5 | Aug 06, 2023 | Jun 14, 2023 | Jun 30, 2023 | $0.484 | 2.06% |
FAQ
Click here for our free guide on how to buy Sachem Capital Corp. 7.75% Note ETF.
