Solar Capital Ltd. Stock Forecast
Solar Capital Ltd. stock price up 1.70% on Friday
(Updated on Apr 26, 2024)
The Solar Capital Ltd. stock price gained 1.70% on the last trading day (Friday, 26th Apr 2024), rising from $15.26 to $15.52. During the last trading day the stock fluctuated 1.84% from a day low at $15.25 to a day high of $15.53. The price has risen in 8 of the last 10 days and is up by 4.65% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 thousand more shares were traded than the day before. In total, 127 thousand shares were bought and sold for approximately $1.96 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Solar Capital Ltd. stock with a 90% probability to be traded between $14.96 and $15.99 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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SLRC Signals & Forecast
The Solar Capital Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $15.29 and $15.18. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -0.0644%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Friday, April 19, 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 stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Friday, April 19, 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 stock 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 4.31% to $16.19 within 43 trading days since signal was issued (Monday, April 29, 2024).
Support, Risk & Stop-loss for Solar Capital Ltd. stock
Solar Capital Ltd. finds support from accumulated volume at $15.13 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 $0.280 between high and low, or 1.84%. For the last week the stock has had daily average volatility of 1.35%.
Our recommended stop-loss: $14.93 (-3.80%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (SLRC) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Solar Capital Ltd. to open at $15.43, and during the day (based on 14 day Average True Range), to move between $15.33 and $15.71, which gives a possible trading interval of +/-$0.193 (+/-1.24%) up or down from last closing price. If Solar Capital Ltd. takes out the full calculated possible swing range there will be an estimated 2.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.65 (0.84%) than the support at $15.13 (2.51%), 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 Solar Capital Ltd. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Solar Capital Ltd. stock to perform well in the short-term period.
Current score: 2.724 Buy Candidate Unchanged
Predicted Opening Price for Solar Capital Ltd. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $15.43 ( 0.558%) | $15.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLRC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.71 | 1.25 % | |
| R2 | 15.61 | 0.557 % | ||
| R1 | 15.54 | 0.131 % | ||
| Current price: | 15.52 | |||
| Support | S1 | 15.33 | -1.25 % | |
| S2 | 15.26 | -1.67 % | ||
| S3 | 15.15 | -2.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.76 | 1.55 % | |
| R2 | 15.72 | 1.29 % | ||
| R1 | 15.65 | 0.84 % | ||
| Current price | 15.52 | |||
| Support | S1 | 15.13 | -2.51% | |
| S2 | 15.08 | -2.84% | ||
| S3 | 14.87 | -4.19% |
SLRC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2024 | Mar 13, 2024 | Mar 28, 2024 | $0.410 | 2.67% |
| 2 | Nov 07, 2023 | Dec 13, 2023 | Dec 28, 2023 | $0.410 | 2.69% |
| 3 | Sep 05, 2023 | Sep 19, 2023 | Sep 28, 2023 | $0.137 | 0.89% |
| 4 | Aug 08, 2023 | Aug 17, 2023 | Aug 30, 2023 | $0.137 | 0.89% |
| 5 | Jul 05, 2023 | Jul 19, 2023 | Aug 01, 2023 | $0.137 | 0.90% |
FAQ
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