PennantPark Investment Corporation Stock Forecast
Green day on Thursday for PennantPark Investment Corporation
(Updated on Apr 18, 2024)
The PennantPark Investment Corporation stock price gained 0.437% on the last trading day (Thursday, 18th Apr 2024), rising from $6.87 to $6.90. During the last trading day the stock fluctuated 1.39% from a day low at $6.86 to a day high of $6.95. The price has risen in 6 of the last 10 days and is up by 0.58% 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, 125 thousand more shares were traded than the day before. In total, 305 thousand shares were bought and sold for approximately $2.10 million.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $6.97 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.52% during the next 3 months and, with a 90% probability hold a price between $6.31 and $6.79 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PNNT Signals & Forecast
The PennantPark Investment Corporation 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 $6.87 and $6.79. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Thursday, April 11, 2024, and so far it has fallen -1.15%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for PennantPark Investment Corporation stock
PennantPark Investment Corporation finds support from accumulated volume at $6.81 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 $0.0950 between high and low, or 1.39%. For the last week the stock has had daily average volatility of 1.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PNNT) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect PennantPark Investment Corporation to open at $6.90, and during the day (based on 14 day Average True Range), to move between $6.80 and $7.00, which gives a possible trading interval of +/-$0.0989 (+/-1.43%) up or down from last closing price. If PennantPark Investment Corporation takes out the full calculated possible swing range there will be an estimated 2.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.91 (0.14%) than the support at $6.81 (1.30%), 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 Investment Corporation stock A Buy?
PennantPark Investment Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.064 Sell Candidate Unchanged
Predicted Opening Price for PennantPark Investment Corporation of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $6.90 ( 0.0242%) | $6.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PNNT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.00 | 1.40 % | |
| R2 | 6.96 | 0.88 % | ||
| R1 | 6.94 | 0.550 % | ||
| Current price: | 6.90 | |||
| Support | S1 | 6.87 | -0.502 % | |
| S2 | 6.84 | -0.83 % | ||
| S3 | 6.81 | -1.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.94 | 0.580 % | |
| R2 | 6.92 | 0.290 % | ||
| R1 | 6.91 | 0.145 % | ||
| Current price | 6.90 | |||
| Support | S1 | 6.81 | -1.30% | |
| S2 | 6.73 | -2.46% | ||
| S3 | 6.68 | -3.19% |
PNNT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 02, 2024 | Apr 12, 2024 | May 01, 2024 | $0.0700 | 1.01% |
| 2 | Mar 04, 2024 | Mar 15, 2024 | Apr 01, 2024 | $0.0700 | 1.03% |
| 3 | Feb 02, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.0700 | 1.03% |
| 4 | Jan 03, 2024 | Jan 12, 2024 | Feb 01, 2024 | $0.0700 | 1.01% |
| 5 | Dec 04, 2023 | Dec 15, 2023 | Jan 02, 2024 | $0.0700 | 1.01% |
FAQ
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