Prospect Capital Corporation Stock Forecast
Green day on Tuesday for Prospect Capital Corporation
(Updated on Apr 23, 2024)
The Prospect Capital Corporation stock price gained 1.39% on the last trading day (Tuesday, 23rd Apr 2024), rising from $5.40 to $5.48. During the last trading day the stock fluctuated 1.11% from a day low at $5.42 to a day high of $5.48. The price has fallen in 6 of the last 10 days and is down by -0.09% for this period. Volume fell on the last day by -168 thousand shares and in total, 994 thousand shares were bought and sold for approximately $5.44 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $5.45, a level that may pose a second chance to hit a runner. According to fan-theory $5.99 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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PSEC Signals & Forecast
The Prospect 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 $5.43 and $5.47. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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, February 21, 2024, and so far it has fallen -6.09%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Prospect Capital Corporation stock
Prospect Capital Corporation finds support from accumulated volume at $5.45 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 $0.0600 between high and low, or 1.11%. For the last week the stock has had daily average volatility of 1.30%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PSEC) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Prospect Capital Corporation to open at $5.46, and during the day (based on 14 day Average True Range), to move between $5.40 and $5.55, which gives a possible trading interval of +/-$0.0774 (+/-1.41%) up or down from last closing price. If Prospect Capital Corporation takes out the full calculated possible swing range there will be an estimated 2.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.45 (0.46%) than the resistance at $5.50 (0.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Prospect Capital Corporation stock A Buy?
Prospect Capital 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: -1.527 Sell Candidate Unchanged
Predicted Opening Price for Prospect Capital Corporation of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $5.46 ( 0.304%) | $5.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PSEC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.52 | 0.791 % | |
| R2 | 5.50 | 0.373 % | ||
| R1 | 5.48 | 0.114 % | ||
| Current price: | 5.48 | |||
| Support | S1 | 5.44 | -0.723 % | |
| S2 | 5.42 | -0.98 % | ||
| S3 | 5.40 | -1.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.83 | 6.48 % | |
| R2 | 5.51 | 0.639 % | ||
| R1 | 5.50 | 0.457 % | ||
| Current price | 5.48 | |||
| Support | S1 | 5.45 | -0.457% | |
| S2 | 5.42 | -1.00% | ||
| S3 | 5.41 | -1.19% |
PSEC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 08, 2024 | Apr 25, 2024 | May 21, 2024 | $0.0600 | 1.09% |
| 2 | Feb 08, 2024 | Mar 26, 2024 | Apr 18, 2024 | $0.0600 | 1.10% |
| 3 | Feb 08, 2024 | Feb 26, 2024 | Mar 20, 2024 | $0.0600 | 1.10% |
| 4 | Nov 13, 2023 | Jan 26, 2024 | Feb 20, 2024 | $0.0600 | 1.06% |
| 5 | Nov 07, 2023 | Dec 26, 2023 | Jan 18, 2024 | $0.0600 | 1.00% |
FAQ
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