PennantPark Floating Rate Capital Ltd. Stock Forecast
Red day on Thursday for PennantPark Floating Rate Capital Ltd. stock after losing 0.87%
(Updated on Apr 25, 2024)
The PennantPark Floating Rate Capital Ltd. stock price fell by -0.87% on the last day (Thursday, 25th Apr 2024) from $11.52 to $11.42. During the last trading day the stock fluctuated 1.26% from a day low at $11.33 to a day high of $11.47. The price has been going up and down for this period, and there has been a 0.26% gain for the last 2 weeks. Volume has increased on the last day by 133 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 354 thousand shares were bought and sold for approximately $4.05 million.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect PennantPark Floating Rate Capital Ltd. stock with a 90% probability to be traded between $11.06 and $11.52 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PFLT Signals & Forecast
The PennantPark Floating Rate Capital Ltd. 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 $11.37 and $11.28. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -1.04%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Thursday, April 18, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, June 02, 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.
Golden Star
The stock had a Golden Star Signal on Thursday, April 18, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, June 02, 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.
Golden Star 12 Months
The stock had a Golden Star Signal on Thursday, April 18, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, June 02, 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.
A sell signal from a double top formation was found on Tuesday, February 27, 2024 and based on theory for this formation the price should fall by -2.03% to $11.19 within 10 trading days since signal was issued (Friday, April 26, 2024).
Support, Risk & Stop-loss for PennantPark Floating Rate Capital Ltd. stock
PennantPark Floating Rate Capital Ltd. finds support from accumulated volume at $11.39 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 $0.142 between high and low, or 1.26%. For the last week the stock has had daily average volatility of 1.15%.
Our recommended stop-loss: $11.05 (-3.21%) (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 (PFLT) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect PennantPark Floating Rate Capital Ltd. to open at $11.41, and during the day (based on 14 day Average True Range), to move between $11.27 and $11.57, which gives a possible trading interval of +/-$0.154 (+/-1.35%) up or down from last closing price. If PennantPark Floating Rate Capital Ltd. takes out the full calculated possible swing range there will be an estimated 2.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.43 (0.09%) than the support at $11.39 (0.26%), 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 PennantPark Floating Rate Capital Ltd. stock A Buy?
PennantPark Floating Rate Capital Ltd. 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: -0.218 Hold/Accumulate Unchanged
Predicted Opening Price for PennantPark Floating Rate Capital Ltd. of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $11.41 ( 0.110%) | $11.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PFLT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.55 | 1.14 % | |
| R2 | 11.50 | 0.660 % | ||
| R1 | 11.46 | 0.366 % | ||
| Current price: | 11.42 | |||
| Support | S1 | 11.35 | -0.586 % | |
| S2 | 11.32 | -0.88 % | ||
| S3 | 11.27 | -1.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.50 | 0.701 % | |
| R2 | 11.46 | 0.350 % | ||
| R1 | 11.43 | 0.0876 % | ||
| Current price | 11.42 | |||
| Support | S1 | 11.39 | -0.263% | |
| S2 | 11.38 | -0.350% | ||
| S3 | 11.20 | -1.93% |
PFLT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 12, 2024 | Apr 12, 2024 | May 01, 2024 | $0.103 | 0.90% |
| 2 | Mar 04, 2024 | Mar 15, 2024 | Apr 01, 2024 | $0.103 | 0.92% |
| 3 | Feb 14, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.103 | 0.90% |
| 4 | Jan 03, 2024 | Jan 12, 2024 | Feb 01, 2024 | $0.103 | 0.91% |
| 5 | Dec 04, 2023 | Dec 15, 2023 | Jan 02, 2024 | $0.103 | 0.85% |
FAQ
Click here for our free guide on how to buy PennantPark Floating Rate Capital Ltd. Stock.
