Solar Capital Ltd. Stock Forecast
Solar Capital Ltd. stock downgraded from Buy Candidate to Sell Candidate after Tuesday trading session.
(Updated on Apr 16, 2024)
The Solar Capital Ltd. stock price fell by -0.471% on the last day (Tuesday, 16th Apr 2024) from $14.87 to $14.80. During the last trading day the stock fluctuated 0.712% from a day low at $14.76 to a day high of $14.86. The price has fallen in 6 of the last 10 days and is down by -2.25% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -88 thousand shares and in total, 142 thousand shares were bought and sold for approximately $2.11 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $14.75 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Solar Capital Ltd. stock with a 90% probability to be traded between $14.73 and $15.73 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.
SLRC Signals & Forecast
There are few to no technical positive signals at the moment. The Solar Capital Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $14.97 and $15.16. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -6.09%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Solar Capital Ltd. stock
Solar Capital Ltd. finds support from accumulated volume at $14.78 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 $0.105 between high and low, or 0.712%. For the last week the stock has had daily average volatility of 1.46%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SLRC) For The Upcoming Trading Day Of Wednesday 17th
For the upcoming trading day on Wednesday, 17th we expect Solar Capital Ltd. to open at $14.81, and during the day (based on 14 day Average True Range), to move between $14.62 and $14.98, which gives a possible trading interval of +/-$0.180 (+/-1.22%) up or down from last closing price. If Solar Capital Ltd. takes out the full calculated possible swing range there will be an estimated 2.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $14.78 (0.14%) than the resistance at $14.87 (0.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Solar Capital Ltd. stock A Buy?
Solar Capital Ltd. holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -2.156 Sell Candidate Downgraded
Predicted Opening Price for Solar Capital Ltd. of Wednesday, April 17, 2024
| Fair opening price April 17, 2024 | Current price |
|---|---|
| $14.81 ( 0.0338%) | $14.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SLRC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.91 | 0.743 % | |
| R2 | 14.87 | 0.472 % | ||
| R1 | 14.85 | 0.305 % | ||
| Current price: | 14.80 | |||
| Support | S1 | 14.76 | -0.237 % | |
| S2 | 14.74 | -0.405 % | ||
| S3 | 14.70 | -0.676 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.08 | 1.89 % | |
| R2 | 15.03 | 1.55 % | ||
| R1 | 14.87 | 0.473 % | ||
| Current price | 14.80 | |||
| Support | S1 | 14.78 | -0.135% | |
| S2 | 14.76 | -0.270% | ||
| S3 | 0 | . |
SLRC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2024 | Mar 13, 2024 | Mar 28, 2024 | $0.410 | 2.67% |
| 2 | Nov 07, 2023 | Dec 13, 2023 | Dec 28, 2023 | $0.410 | 2.69% |
| 3 | Sep 05, 2023 | Sep 19, 2023 | Sep 28, 2023 | $0.137 | 0.89% |
| 4 | Aug 08, 2023 | Aug 17, 2023 | Aug 30, 2023 | $0.137 | 0.89% |
| 5 | Jul 05, 2023 | Jul 19, 2023 | Aug 01, 2023 | $0.137 | 0.90% |
FAQ
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