Solar Capital Ltd. Stock Forecast
Weaker technical forecast for Solar Capital Ltd. as stock downgraded to Buy Candidate.
(Updated on May 07, 2024)
The Solar Capital Ltd. stock price fell by -0.0642% on the last day (Tuesday, 7th May 2024) from $15.57 to $15.56. During the last trading day the stock fluctuated 0.643% from a day low at $15.55 to a day high of $15.65. The price has been going up and down for this period, and there has been a 0.97% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -11 thousand shares and in total, 103 thousand shares were bought and sold for approximately $1.61 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.65% during the next 3 months and, with a 90% probability hold a price between $15.30 and $16.47 at the end of this 3-month period.
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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 $15.49 and $15.20. 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). 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 Monday, May 06, 2024, and so far it has fallen -0.0642%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. 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.
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 $0.1000 between high and low, or 0.643%. For the last week the stock has had daily average volatility of 0.99%.
Our recommended stop-loss: $14.99 (-3.64%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (SLRC) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Solar Capital Ltd. to open at $15.59, and during the day (based on 14 day Average True Range), to move between $15.38 and $15.74, which gives a possible trading interval of +/-$0.178 (+/-1.14%) up or down from last closing price. If Solar Capital Ltd. takes out the full calculated possible swing range there will be an estimated 2.29% 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 (0.58%) than the support at $15.13 (2.76%), 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.
Earnings coming up
Solar Capital Ltd. will release earnings AMC on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.440. We will update the financials statements for Solar Capital Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.69% in the first trading day after earnings release.
Is Solar Capital Ltd. stock A Buy?
Several short-term signals, along with a general good trend, 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.165 Buy Candidate Downgraded
Predicted Opening Price for Solar Capital Ltd. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $15.59 ( 0.171%) | $15.56 |
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 | 15.69 | 0.81 % | |
| R2 | 15.65 | 0.569 % | ||
| R1 | 15.62 | 0.417 % | ||
| Current price: | 15.56 | |||
| Support | S1 | 15.55 | -0.0741 % | |
| S2 | 15.52 | -0.226 % | ||
| S3 | 15.49 | -0.471 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.76 | 1.29 % | |
| R2 | 15.72 | 1.03 % | ||
| R1 | 15.65 | 0.578 % | ||
| Current price | 15.56 | |||
| Support | S1 | 15.13 | -2.76% | |
| S2 | 15.08 | -3.08% | ||
| S3 | 14.87 | -4.43% |
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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