XAI Octagon Floating Rate & Alternative Stock Forecast
Green day on Friday for XAI Octagon Floating Rate & Alternative
(Updated on Apr 26, 2024)
The XAI Octagon Floating Rate & Alternative stock price gained 0.143% on the last trading day (Friday, 26th Apr 2024), rising from $7.01 to $7.02. During the last trading day the stock fluctuated 0.84% from a day low at $7.01 to a day high of $7.07. The price has been going up and down for this period, and there has been a -0.35% loss for the last 2 weeks. Volume fell on the last day by -131 thousand shares and in total, 350 thousand shares were bought and sold for approximately $2.46 million. 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 lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.22% during the next 3 months and, with a 90% probability hold a price between $6.50 and $6.85 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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XFLT Signals & Forecast
There are mixed signals in the stock today. The XAI Octagon Floating Rate & Alternative stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $7.07. On a fall, the stock will find some support from the short-term average at $6.99. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 0.717%. Further rise is indicated until a new top pivot has been found. 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 XAI Octagon Floating Rate & Alternative stock
XAI Octagon Floating Rate & Alternative finds support from accumulated volume at $7.01 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 $0.0588 between high and low, or 0.84%. For the last week the stock has had daily average volatility of 0.749%.
Our recommended stop-loss: $6.64 (-5.43%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (XFLT) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect XAI Octagon Floating Rate & Alternative Income Term Trust of Beneficial Interest to open at $7.03, and during the day (based on 14 day Average True Range), to move between $6.95 and $7.09, which gives a possible trading interval of +/-$0.0655 (+/-0.93%) up or down from last closing price. If XAI Octagon Floating Rate & Alternative Income Term Trust of Beneficial Interest takes out the full calculated possible swing range there will be an estimated 1.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.01 (0.14%) than the resistance at $7.10 (1.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is XAI Octagon Floating Rate & Alternative Income Term Trust of Beneficial Interest stock A Buy?
XAI Octagon Floating Rate & Alternative 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.
Current score: -0.318 Hold/Accumulate Unchanged
Predicted Opening Price for XAI Octagon Floating Rate & Alternative Income Term Trust of Beneficial Interest of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$7.03 ( 0.148%) | $7.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XFLT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.09 | 0.99 % | |
R2 | 7.07 | 0.666 % | ||
R1 | 7.05 | 0.468 % | ||
Current price: | 7.02 | |||
Support | S1 | 7.01 | -0.172 % | |
S2 | 6.99 | -0.369 % | ||
S3 | 6.97 | -0.689 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.15 | 1.85 % | |
R2 | 7.13 | 1.57 % | ||
R1 | 7.10 | 1.14 % | ||
Current price | 7.02 | |||
Support | S1 | 7.01 | -0.142% | |
S2 | 7.00 | -0.285% | ||
S3 | 6.99 | -0.427% |
XFLT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 01, 2024 | Apr 12, 2024 | May 01, 2024 | $0.0850 | 1.21% |
2 | Mar 01, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.0850 | 1.20% |
3 | Feb 01, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.0850 | 1.20% |
4 | Jan 02, 2024 | Jan 12, 2024 | Feb 01, 2024 | $0.0850 | 1.12% |
5 | Dec 01, 2023 | Dec 14, 2023 | Dec 28, 2023 | $0.0850 | 1.17% |
FAQ
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