Sachem Capital Corp Stock Forecast
Green day on Wednesday for Sachem Capital Corp
(Updated on Mar 27, 2024)
The Sachem Capital Corp stock price gained 1.83% on the last trading day (Wednesday, 27th Mar 2024), rising from $4.38 to $4.46. During the last trading day the stock fluctuated 2.51% from a day low at $4.39 to a day high of $4.50. The price has risen in 6 of the last 10 days and is up by 7.21% over the past 2 weeks. Volume fell on the last day by -115 thousand shares and in total, 206 thousand shares were bought and sold for approximately $920.45 thousand. 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 stock lies in the upper part of a wide and strong rising 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 $4.58 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 16.19% during the next 3 months and, with a 90% probability hold a price between $4.33 and $5.32 at the end of this 3-month period.
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SACH Signals & Forecast
The Sachem Capital Corp stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $4.49. On a fall, the stock will find some support from the long-term average at approximately $3.93. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Thursday, March 21, 2024, and so far it has fallen -1.76%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Sachem Capital Corp stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.93 and $3.77. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Sachem Capital Corp finds support just below today's level at $3.93. If this is broken, then the next support from accumulated volume will be at $3.77 and $3.71.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved $0.110 between high and low, or 2.51%. For the last week the stock has had daily average volatility of 2.73%.
The Sachem Capital Corp stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $4.31 (-3.40%) (This stock has high daily movements and this gives high risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (SACH) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Sachem Capital Corp to open at $4.45, and during the day (based on 14 day Average True Range), to move between $4.33 and $4.59, which gives a possible trading interval of +/-$0.127 (+/-2.85%) up or down from last closing price. If Sachem Capital Corp takes out the full calculated possible swing range there will be an estimated 5.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $4.47 (0.22%) than the support at $3.93 (11.88%), 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 Sachem Capital Corp stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Sachem Capital Corp stock to perform well in the short-term.
Current score: 1.679 Buy Candidate Unchanged
Predicted Opening Price for Sachem Capital Corp of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$4.45 ( 0.224%) | $4.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SACH
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.56 | 2.24 % | |
R2 | 4.52 | 1.30 % | ||
R1 | 4.49 | 0.718 % | ||
Current price: | 4.46 | |||
Support | S1 | 4.41 | -1.17 % | |
S2 | 4.38 | -1.75 % | ||
S3 | 4.34 | -2.69 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 4.54 | 1.79 % | |
R2 | 4.53 | 1.57 % | ||
R1 | 4.47 | 0.224 % | ||
Current price | 4.46 | |||
Support | S1 | 3.93 | -11.88% | |
S2 | 3.77 | -15.47% | ||
S3 | 3.71 | -16.82% |
SACH Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 14, 2023 | Dec 28, 2023 | Jan 10, 2024 | $0.110 | 2.89% |
2 | Oct 23, 2023 | Oct 30, 2023 | Nov 07, 2023 | $0.110 | 3.14% |
3 | Jul 26, 2023 | Aug 04, 2023 | Aug 11, 2023 | $0.130 | 3.75% |
4 | Apr 05, 2023 | Apr 14, 2023 | Apr 24, 2023 | $0.130 | 3.63% |
5 | Dec 13, 2022 | Dec 29, 2022 | Jan 10, 2023 | $0.130 | 3.65% |
FAQ
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