Sachem Capital Corp. 8.00% Note Stock Forecast
Sachem Capital Corp. 8.00% Note stock price up 0.193% on Tuesday
(Updated on Jun 25, 2024)
The Sachem Capital Corp. 8.00% Note stock price gained 0.193% on the last trading day (Tuesday, 25th Jun 2024), rising from $23.05 to $23.09. During the last trading day the stock fluctuated 0.533% from a day low at $23.09 to a day high of $23.22. The price has fallen in 6 of the last 10 days and is down by -2.31% for this period. Volume fell on the last day by -2 thousand shares and in total, 1 thousand shares were bought and sold for approximately $26.00 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 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 Sachem Capital Corp. 8.00% Note stock with a 90% probability to be traded between $22.73 and $23.70 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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SCCG Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 20, 2024, and so far it has risen 0.630%. 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. 8.00% Note 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 $23.20 and $23.47. 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.
Support, Risk & Stop-loss for Sachem Capital Corp. 8.00% Note stock
Sachem Capital Corp. 8.00% Note finds support from accumulated volume at $22.95 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 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 stock During the last day, the stock moved $0.123 between high and low, or 0.533%. For the last week the stock has had daily average volatility of 0.85%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SCCG) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Sachem Capital Corp. 8.00% Note to open at $23.14, and during the day (based on 14 day Average True Range), to move between $22.88 and $23.31, which gives a possible trading interval of +/-$0.217 (+/-0.94%) up or down from last closing price. If Sachem Capital Corp. 8.00% Note takes out the full calculated possible swing range there will be an estimated 1.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $22.95 (0.63%) than the resistance at $23.32 (0.98%), 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. 8.00% Note stock A Buy?
Sachem Capital Corp. 8.00% Note 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.
Current score: -3.066 Sell Candidate Unchanged
Predicted Opening Price for Sachem Capital Corp. 8.00% Note of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $23.14 ( 0.178%) | $23.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCCG
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.26 | 0.711% |
| R2 | 23.21 | 0.507% |
| R1 | 23.18 | 0.382% |
| Price | 23.09 | |
| S1 | 23.09 | -0.0260% |
| S2 | 23.06 | -0.152% |
| S3 | 23.01 | -0.356% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.65 | 2.40% |
| R2 | 23.55 | 1.97% |
| R1 | 23.32 | 0.98% |
| Price | 23.09 | |
| S1 | 22.95 | -0.626% |
| S2 | 22.86 | -1.02% |
| S3 | 22.80 | -1.28% |
SCCG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jun 14, 2024 | Jul 01, 2024 | $0.500 | 2.17% |
| 2 | Mar 14, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.500 | 2.12% |
| 3 | Dec 14, 2023 | Dec 14, 2023 | Jan 02, 2024 | $0.500 | 2.19% |
| 4 | Sep 14, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.500 | 2.17% |
| 5 | Jun 14, 2023 | Jun 14, 2023 | Jun 30, 2023 | $0.500 | 2.26% |
FAQ
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