Apollo Senior Floating Rate Fund Inc Stock Forecast

Apollo Senior Floating Rate Fund Inc stock upgraded to Buy Candidate.
(Updated on Apr 18, 2024)

AFT Signals & Forecast

Mostly positive signals in the chart today. The Apollo Senior Floating Rate Fund Inc 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 $14.25 and $14.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 3.30%. 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). Apollo Senior Floating Rate Fund Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. The stock had a Golden Star Signal on Tuesday, April 09, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, December 05, 2023.

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 Apollo Senior Floating Rate Fund Inc stock

Apollo Senior Floating Rate Fund Inc finds support from accumulated volume at $13.78 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 $0.175 between high and low, or 1.23%. For the last week the stock has had daily average volatility of 0.83%.

Our recommended stop-loss: $13.57 (-5.64%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 17 days ago.)

Trading Expectations (AFT) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Apollo Senior Floating Rate Fund Inc to open at $14.32, and during the day (based on 14 day Average True Range), to move between $14.26 and $14.50, which gives a possible trading interval of +/-$0.119 (+/-0.83%) up or down from last closing price. If Apollo Senior Floating Rate Fund Inc takes out the full calculated possible swing range there will be an estimated 1.66% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $14.44 (0.42%) than the support at $13.78 (4.17%), 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 Apollo Senior Floating Rate Fund Inc 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 Apollo Senior Floating Rate Fund Inc 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: 2.436 Buy Candidate Upgraded

Predicted Opening Price for Apollo Senior Floating Rate Fund Inc of Friday, April 19, 2024

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