Sachem Capital Corp. 7.75% Note ETF Forecast
Sachem Capital Corp. 7.75% Note ETF upgraded to Hold/Accumulate.
(Updated on Apr 17, 2024)
The Sachem Capital Corp. 7.75% Note ETF price gained 0.267% on the last trading day (Wednesday, 17th Apr 2024), rising from $24.70 to $24.76. During the last trading day the ETF fluctuated 0.198% from a day low at $24.76 to a day high of $24.81. The price has fallen in 6 of the last 10 days and is down by -0.45% for this period. Volume fell on the last day by -4 thousand shares and in total, 3 thousand shares were bought and sold for approximately $66.88 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 is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $24.70 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Sachem Capital Corp. 7.75% Note ETF with a 90% probability to be traded between $24.95 and $25.39 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 ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
SCCC Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.267%. 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. The Sachem Capital Corp. 7.75% Note ETF 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 $24.82 and $24.89. A break-up above any of these levels will issue buy signals. 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 not be. The very low volume increases the risk and reduces the other technical signals issued. The ETF had a Golden Star Signal on Wednesday, January 03, 2024 in the long-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 ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Wednesday, January 03, 2024 in the long-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 ETF in question.
A buy signal from a double bottom formation was found on Tuesday, April 16, 2024 and based on theory for this formation the price should go up by 0.99% to $25.01 within 45 trading days since signal was issued (Thursday, April 18, 2024).
Support, Risk & Stop-loss for Sachem Capital Corp. 7.75% Note ETF
Sachem Capital Corp. 7.75% Note finds support from accumulated volume at $24.75 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 $0.0491 between high and low, or 0.198%. For the last week the ETF has had daily average volatility of 0.371%
Our recommended stop-loss: $22.74 (-8.16%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (SCCC) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Sachem Capital Corp. 7.75% Note to open at $24.78, and during the day (based on 14 day Average True Range), to move between $24.66 and $24.87, which gives a possible trading interval of +/-$0.105 (+/-0.43%) 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 0.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $24.75 (0.04%) than the resistance at $24.78 (0.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sachem Capital Corp. 7.75% Note ETF A Buy?
Sachem Capital Corp. 7.75% Note holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.086 Hold/Accumulate Upgraded
Predicted Opening Price for Sachem Capital Corp. 7.75% Note of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $24.78 ( 0.0661%) | $24.76 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 24.83 | 0.264 % | |
| R2 | 24.81 | 0.189 % | ||
| R1 | 24.80 | 0.142 % | ||
| Current price: | 24.76 | |||
| Support | S1 | 24.76 | -0.0097 % | |
| S2 | 24.75 | -0.0564 % | ||
| S3 | 24.73 | -0.132 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.00 | 0.97 % | |
| R2 | 24.89 | 0.521 % | ||
| R1 | 24.78 | 0.0771 % | ||
| Current price | 24.76 | |||
| Support | S1 | 24.75 | -0.0440% | |
| S2 | 24.75 | -0.0598% | ||
| S3 | 24.65 | -0.448% |
SCCC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 14, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.484 | 1.95% |
| 2 | Dec 14, 2023 | Dec 14, 2023 | Jan 02, 2024 | $0.484 | 2.01% |
| 3 | Sep 14, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.484 | 2.05% |
| 4 | Aug 06, 2023 | Jun 14, 2023 | Jun 30, 2023 | $0.484 | 2.06% |
| 5 | Jun 13, 2023 | Mar 14, 2023 | Mar 30, 2023 | $0.484 | 2.09% |
FAQ
Click here for our free guide on how to buy Sachem Capital Corp. 7.75% Note ETF.
