Sachem Capital Corp. 7.75% Note ETF Forecast

Sachem Capital Corp. 7.75% Note ETF upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Apr 30, 2024)

SCCC Signals & Forecast

There are few to no technical positive signals at the moment. 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 $24.71 and $24.83. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -1.60%. 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 ETF may have low liquidity in periods, which increases the general risk. 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.

Support, Risk & Stop-loss for Sachem Capital Corp. 7.75% Note ETF

Sachem Capital Corp. 7.75% Note finds support from accumulated volume at $24.55 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 $0.220 between high and low, or 0.89%. For the last week the ETF has had daily average volatility of 0.568%

Our recommended stop-loss: $23.43 (-4.77%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 34 days ago.)

Trading Expectations (SCCC) For The Upcoming Trading Day Of Wednesday 1st

For the upcoming trading day on Wednesday, 1st we expect Sachem Capital Corp. 7.75% Note to open at $24.67, and during the day (based on 14 day Average True Range), to move between $24.47 and $24.73, which gives a possible trading interval of +/-$0.130 (+/-0.53%) 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 1.06% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $24.55 (0.20%) than the resistance at $24.75 (0.61%), 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: -0.766 Hold/Accumulate Upgraded

Predicted Opening Price for Sachem Capital Corp. 7.75% Note of Wednesday, May 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.