Blackstone / GSO Strategic Credit Fund Stock Forecast
Weaker technical forecast for Blackstone / GSO Strategic Credit Fund as stock downgraded to Hold/Accumulate.
(Updated on Mar 28, 2024)
The Blackstone / GSO Strategic Credit Fund stock price gained 0.0841% on the last trading day (Thursday, 28th Mar 2024), rising from $11.89 to $11.90. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.548% from a day low at $11.87 to a day high of $11.94. The price has risen in 6 of the last 10 days and is up by 0.43% over the past 2 weeks. Volume fell on the last day by -29 thousand shares and in total, 73 thousand shares were bought and sold for approximately $871.54 thousand. 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 narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.14% during the next 3 months and, with a 90% probability hold a price between $12.40 and $12.67 at the end of this 3-month period.
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BGB Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -0.335%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The Blackstone / GSO Strategic Credit Fund 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 $11.85 and $11.76. A breakdown below any of these levels will issue sell signals. The stock had a Golden Star Signal on Monday, December 04, 2023 in the long-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 stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, December 04, 2023 in the long-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 stock in question.
Support, Risk & Stop-loss for Blackstone / GSO Strategic Credit Fund stock
Blackstone / GSO Strategic Credit Fund finds support from accumulated volume at $11.65 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0650 between high and low, or 0.548%. For the last week the stock has had daily average volatility of 0.542%
Our recommended stop-loss: $11.49 (-3.42%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (BGB) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Blackstone / GSO Strategic Credit Fund to open at $11.90, and during the day (based on 14 day Average True Range), to move between $11.83 and $11.97, which gives a possible trading interval of +/-$0.0728 (+/-0.61%) up or down from last closing price. If Blackstone / GSO Strategic Credit Fund takes out the full calculated possible swing range there will be an estimated 1.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.94 (0.34%) than the support at $11.65 (2.10%), 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 Blackstone / GSO Strategic Credit Fund stock A Buy?
Blackstone / GSO Strategic Credit Fund 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: 0.925 Hold/Accumulate Downgraded
Predicted Opening Price for Blackstone / GSO Strategic Credit Fund of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$11.90 ( 0.0140%) | $11.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BGB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.97 | 0.560 % | |
R2 | 11.94 | 0.352 % | ||
R1 | 11.93 | 0.223 % | ||
Current price: | 11.90 | |||
Support | S1 | 11.88 | -0.195 % | |
S2 | 11.86 | -0.324 % | ||
S3 | 11.84 | -0.532 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 11.94 | 0.336 % | ||
Current price | 11.90 | |||
Support | S1 | 11.65 | -2.10% | |
S2 | 11.61 | -2.44% | ||
S3 | 11.55 | -2.94% |
BGB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 22, 2024 | May 22, 2024 | May 31, 2024 | $0.0930 | 0.782% |
2 | Apr 22, 2024 | Apr 22, 2024 | Apr 30, 2024 | $0.0930 | 0.782% |
3 | Mar 20, 2024 | Mar 20, 2024 | Mar 28, 2024 | $0.0930 | 0.782% |
4 | Dec 14, 2023 | Feb 21, 2024 | Feb 29, 2024 | $0.0940 | 0.80% |
5 | Dec 28, 2023 | Dec 28, 2023 | Jan 31, 2024 | $0.0940 | 0.81% |
FAQ
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