Oaktree Specialty Lending Corp Stock Forecast

Weaker technical forecast for Oaktree Specialty Lending Corp as stock downgraded to Hold/Accumulate.
(Updated on Apr 22, 2024)

OCSL Signals & Forecast

The Oaktree Specialty Lending Corp 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 $19.43 and $19.45. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 18, 2024, and so far it has risen 3.00%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Wednesday, April 17, 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 stock in question.

Support, Risk & Stop-loss for Oaktree Specialty Lending Corp stock

Oaktree Specialty Lending Corp finds support from accumulated volume at $19.52 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 $0.225 between high and low, or 1.15%. For the last week the stock has had daily average volatility of 0.95%.

Our recommended stop-loss: $18.49 (-5.68%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 24 days ago.)

Trading Expectations (OCSL) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Oaktree Specialty Lending Corp to open at $19.64, and during the day (based on 14 day Average True Range), to move between $19.38 and $19.82, which gives a possible trading interval of +/-$0.223 (+/-1.14%) up or down from last closing price. If Oaktree Specialty Lending Corp takes out the full calculated possible swing range there will be an estimated 2.28% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $19.52 (0.41%) than the resistance at $19.71 (0.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Oaktree Specialty Lending Corp stock A Buy?

Oaktree Specialty Lending Corp 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: 0.079 Hold/Accumulate Downgraded

Predicted Opening Price for Oaktree Specialty Lending Corp of Tuesday, April 23, 2024

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