Xai Octagon Floating Rate & Alternative Trust Forecast
Weaker technical forecast for Xai Octagon Floating Rate & Alternative as trust downgraded to Hold/Accumulate.
(Updated on Jun 27, 2024)
The Xai Octagon Floating Rate & Alternative trust price fell by -0.202% on the last day (Thursday, 27th Jun 2024) from $24.76 to $24.71. During the last trading day the trust fluctuated 0.226% from a day low at $24.71 to a day high of $24.77. The price has been going up and down for this period, and there has been a -0.4% loss for the last 2 weeks. Volume has increased on the last day by 3 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 thousand shares were bought and sold for approximately $75.71 thousand.
The trust is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Xai Octagon Floating Rate & Alternative trust with a 90% probability to be traded between $24.58 and $24.88 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 trusts seldom manage to go directly from the bottom of a trend up to the top. Trusts turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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XFLT-PA Signals & Forecast
There are mixed signals in the trust today. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -0.202%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Xai Octagon Floating Rate & Alternative gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. The Xai Octagon Floating Rate & Alternative trust 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 $24.68 and $24.66. A breakdown below any of these levels will issue sell signals. The trust had a Golden Star Signal on Thursday, June 20, 2024 in the short-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 trust in question.
Golden Star
The trust had a Golden Star Signal on Thursday, June 20, 2024 in the short-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 trust in question.
Support, Risk & Stop-loss for Xai Octagon Floating Rate & Alternative trust
Xai Octagon Floating Rate & Alternative finds support from accumulated volume at $24.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the trust tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the trust moved $0.0559 between high and low, or 0.226%. For the last week the trust has had daily average volatility of 0.338%.
Our recommended stop-loss: $23.95 (-3.06%) (This trust has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (XFLT-PA) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Xai Octagon Floating Rate & Alternative Income Term Trust to open at $24.73, and during the day (based on 14 day Average True Range), to move between $24.57 and $24.85, which gives a possible trading interval of +/-$0.140 (+/-0.56%) up or down from last closing price. If Xai Octagon Floating Rate & Alternative Income Term Trust takes out the full calculated possible swing range there will be an estimated 1.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $24.72 (0.02%) than the support at $24.70 (0.04%), 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 Xai Octagon Floating Rate & Alternative Income Term Trust trust 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this trust since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.547 Hold/Accumulate Downgraded
Predicted Opening Price for Xai Octagon Floating Rate & Alternative Income Term Trust of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| $24.73 ( 0.0754%) | $24.71 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XFLT-PA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.78 | 0.302% |
| R2 | 24.76 | 0.215% |
| R1 | 24.75 | 0.162% |
| Price | 24.71 | |
| S1 | 24.71 | -0.0110% |
| S2 | 24.69 | -0.0644% |
| S3 | 24.67 | -0.151% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.81 | 0.404% |
| R2 | 24.76 | 0.202% |
| R1 | 24.72 | 0.0239% |
| Price | 24.71 | |
| S1 | 24.70 | -0.0405% |
| S2 | 24.61 | -0.405% |
| S3 | 24.51 | -0.81% |
XFLT-PA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 12, 2024 | Apr 12, 2024 | Apr 30, 2024 | $0.406 | 1.66% |
| 2 | Jan 12, 2024 | Jan 12, 2024 | Jan 31, 2024 | $0.406 | 1.65% |
| 3 | Oct 13, 2023 | Oct 13, 2023 | Oct 31, 2023 | $0.406 | 1.67% |
| 4 | Jul 14, 2023 | Jul 14, 2023 | Jul 31, 2023 | $0.406 | 1.63% |
| 5 | Apr 14, 2023 | Apr 14, 2023 | May 01, 2023 | $0.406 | 1.62% |
FAQ
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