Will orc pass 7.88 today


Aime
Orchid Island Capital's stock is not likely to surpass $7.88 today. Here's the analysis to support this conclusion:
- Current Price and Trends: The closing price of Orchid Island Capital (ORC) on October 29, 2024, was $7.871.
ORC Trend
- Short-term Trend Forecast: The short-term trend forecast for ORC does not provide a specific price target for the immediate future2.
ORC Trend
- Technical Indicators: The stock's technical indicators are not bullish. The MACD is at 0, the KDJ is at 11.46, and the RSI is at 38.233, which typically suggest that a stock is neither overbought nor oversold, and neither trending strongly in either direction.
ORC Trend
- Moving Averages: The 5-day moving average is $7.85, and the 10-day moving average is $7.944. Both of these are below the $7.88 mark, indicating a short-term downward trend.
ORC Trend
- Market Sentiment and Forecasts: The market sentiment is neutral to bearish, as evidenced by the average holdings size of ORC in investors' portfolios, which is 5.74%5. Additionally, the historical price data shows that ORC has experienced a significant drop from $10.80 to $1.80 over the past decade6, which could influence investor behavior.
- Recent Performance: On the day of earnings release, the stock traded up to $7.91, but this was afterhours, and the next trading day, it closed at $7.877. This suggests that the stock did not maintain the upward momentum into the regular trading session.
ORC
Date | Earnings Release Date | Earnings Release Time | Financial Report Period |
---|---|---|---|
20240101-20241029 | 20240425 | After Market Close | 2024 Q1 |
20240101-20241029 | 20240725 | After Market Close | 2024 Q2 |
20240101-20241029 | 20241024 | After Market Close | 2024 Q3 |
Name |
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Orchid IslandORC |
Orchid IslandORC |
Orchid IslandORC |
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In conclusion, given the current technical indicators, short-term moving averages, and market sentiment, it is unlikely that ORC's stock will surpass $7.88 today.
Source:
1.
ORC Closing Price
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