Monroe Capital Corporation Stock Forecast
Green day on Wednesday for Monroe Capital Corporation
(Updated on Apr 24, 2024)
The Monroe Capital Corporation stock price gained 0.97% on the last trading day (Wednesday, 24th Apr 2024), rising from $7.21 to $7.28. It has now gained 5 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 1.81% from a day low at $7.19 to a day high of $7.32. The price has risen in 6 of the last 10 days and is up by 0.83% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 thousand more shares were traded than the day before. In total, 64 thousand shares were bought and sold for approximately $465.92 thousand.
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 -2.23% during the next 3 months and, with a 90% probability hold a price between $6.72 and $7.30 at the end of this 3-month period.
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MRCC Signals & Forecast
The Monroe Capital Corporation 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 $7.15 and $7.20. A breakdown below any of these levels will issue sell signals. Monroe Capital Corporation 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -0.410%. 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). The stock had a Golden Star Signal on Monday, April 22, 2024 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, April 22, 2024 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.
A buy signal from a double bottom formation was found on Monday, March 18, 2024 and based on theory for this formation the price should go up by 5.29% to $7.67 within 16 trading days since signal was issued (Thursday, April 25, 2024).
Support, Risk & Stop-loss for Monroe Capital Corporation stock
Monroe Capital Corporation finds support from accumulated volume at $7.25 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 $0.130 between high and low, or 1.81%. For the last week the stock has had daily average volatility of 2.03%.
Our recommended stop-loss: $7.00 (-3.91%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (MRCC) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Monroe Capital Corporation to open at $7.26, and during the day (based on 14 day Average True Range), to move between $7.14 and $7.42, which gives a possible trading interval of +/-$0.145 (+/-1.99%) up or down from last closing price. If Monroe Capital Corporation takes out the full calculated possible swing range there will be an estimated 3.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.29 (0.14%) than the support at $7.25 (0.41%), 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 Monroe Capital Corporation stock A Buy?
Monroe Capital Corporation 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: -0.308 Hold/Accumulate Unchanged
Predicted Opening Price for Monroe Capital Corporation of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $7.26 ( 0.229%) | $7.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MRCC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.39 | 1.56 % | |
| R2 | 7.34 | 0.87 % | ||
| R1 | 7.31 | 0.453 % | ||
| Current price: | 7.28 | |||
| Support | S1 | 7.21 | -0.91 % | |
| S2 | 7.18 | -1.33 % | ||
| S3 | 7.13 | -2.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.34 | 0.82 % | |
| R2 | 7.31 | 0.412 % | ||
| R1 | 7.29 | 0.137 % | ||
| Current price | 7.28 | |||
| Support | S1 | 7.25 | -0.412% | |
| S2 | 7.22 | -0.82% | ||
| S3 | 7.20 | -1.10% |
MRCC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 05, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.250 | 3.47% |
| 2 | Dec 01, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.250 | 3.54% |
| 3 | Sep 01, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.250 | 3.36% |
| 4 | Jun 02, 2023 | Jun 14, 2023 | Jun 30, 2023 | $0.250 | 3.06% |
| 5 | Mar 01, 2023 | Mar 14, 2023 | Mar 31, 2023 | $0.250 | 3.27% |
FAQ
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