TCP Capital Corp. Stock Forecast
TCP Capital Corp. stock upgraded to Buy Candidate.
(Updated on May 06, 2024)
The TCP Capital Corp. stock price gained 1.65% on the last trading day (Monday, 6th May 2024), rising from $10.28 to $10.45. During the last trading day the stock fluctuated 1.98% from a day low at $10.34 to a day high of $10.54. The price has fallen in 6 of the last 10 days but is still up by 3.16% 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, 43 thousand more shares were traded than the day before. In total, 417 thousand shares were bought and sold for approximately $4.36 million.
Given the current short-term trend, the stock is expected to fall -10.16% during the next 3 months and, with a 90% probability hold a price between $8.37 and $9.39 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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TCPC Signals & Forecast
Mostly positive signals in the chart today. The TCP Capital Corp. 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 $10.25 and $10.16. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 22, 2024, and so far it has risen 5.56%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for TCP Capital Corp. stock
TCP Capital Corp. finds support from accumulated volume at $10.17 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 $0.205 between high and low, or 1.98%. For the last week the stock has had daily average volatility of 1.85%.
Our recommended stop-loss: $9.97 (-4.63%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (TCPC) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect TCP Capital Corp. to open at $10.44, and during the day (based on 14 day Average True Range), to move between $10.28 and $10.62, which gives a possible trading interval of +/-$0.172 (+/-1.65%) up or down from last closing price. If TCP Capital Corp. takes out the full calculated possible swing range there will be an estimated 3.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.55 (0.96%) than the support at $10.17 (2.68%), 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 TCP Capital Corp. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.354 Buy Candidate Upgraded
Predicted Opening Price for TCP Capital Corp. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $10.44 ( 0.0797%) | $10.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TCPC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.65 | 1.88 % | |
| R2 | 10.57 | 1.13 % | ||
| R1 | 10.52 | 0.670 % | ||
| Current price: | 10.45 | |||
| Support | S1 | 10.36 | -0.83 % | |
| S2 | 10.31 | -1.29 % | ||
| S3 | 10.24 | -2.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.20 | 7.18 % | |
| R2 | 10.72 | 2.58 % | ||
| R1 | 10.55 | 0.96 % | ||
| Current price | 10.45 | |||
| Support | S1 | 10.17 | -2.68% | |
| S2 | 10.10 | -3.35% | ||
| S3 | 9.90 | -5.26% |
TCPC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.340 | 3.25% |
| 2 | Feb 27, 2024 | Mar 13, 2024 | Mar 29, 2024 | $0.340 | 3.26% |
| 3 | Nov 02, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.590 | 5.11% |
| 4 | Aug 03, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.440 | 3.75% |
| 5 | May 04, 2023 | Jun 15, 2023 | Jun 30, 2023 | $0.340 | 3.12% |
FAQ
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