OFS Credit Company Inc Stock Forecast

OFS Credit Company Inc stock price down 0% on Wednesday
(Updated on Apr 17, 2024)

OCCI Signals & Forecast

The OFS Credit Company Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $7.21. On a fall, the stock will find some support from the long-term average at approximately $7.08. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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 Monday, April 15, 2024, and so far it has fallen -0.96%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for OFS Credit Company Inc stock

OFS Credit Company Inc finds support from accumulated volume at $7.04 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.200 (2.81%) between high and low. For the last week, the stock has had daily average volatility of 2.69%.

Our recommended stop-loss: $6.88 (-4.29%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (OCCI) For The Upcoming Trading Day Of Thursday 18th

For the upcoming trading day on Thursday, 18th we expect OFS Credit Company Inc to open at $7.21, and during the day (based on 14 day Average True Range), to move between $7.02 and $7.36, which gives a possible trading interval of +/-$0.166 (+/-2.30%) up or down from last closing price. If OFS Credit Company Inc takes out the full calculated possible swing range there will be an estimated 4.61% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $7.24 (0.70%) than the support at $7.04 (2.09%), 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 OFS Credit Company Inc stock A Buy?

OFS Credit Company Inc 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: 0.164 Hold/Accumulate Unchanged

Predicted Opening Price for OFS Credit Company Inc of Thursday, April 18, 2024

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