TriplePoint Venture Growth BDC Corp Stock Forecast

TriplePoint Venture Growth BDC Corp stock downgraded to Hold/Accumulate
(Updated on Apr 23, 2024)

TPVG Signals & Forecast

The TriplePoint Venture Growth BDC Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $9.26 and $9.38. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 7.60%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for TriplePoint Venture Growth BDC Corp stock

TriplePoint Venture Growth BDC Corp finds support from accumulated volume at $9.53 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 $0.255 between high and low, or 2.69%. For the last week the stock has had daily average volatility of 2.70%.

Since the TriplePoint Venture Growth BDC Corp has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: $9.32 (-3.26%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (TPVG) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect TriplePoint Venture Growth BDC Corp to open at $9.61, and during the day (based on 14 day Average True Range), to move between $9.40 and $9.86, which gives a possible trading interval of +/-$0.225 (+/-2.34%) up or down from last closing price. If TriplePoint Venture Growth BDC Corp takes out the full calculated possible swing range there will be an estimated 4.68% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $9.53 (1.04%) than the resistance at $9.79 (1.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is TriplePoint Venture Growth BDC Corp stock A Buy?

TriplePoint Venture Growth BDC Corp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for TriplePoint Venture Growth BDC Corp of Wednesday, April 24, 2024

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