BLACKROCK TCP CAPITAL CORP (TCPC) Stock Technical Analysis
NASDAQ:TCPC - Nasdaq - US09259E1082 - Common Stock - Currency: USD
Overall TCPC gets a technical rating of 4 out of 10. Recently some decent action could be observed, but in the medium term time frame this is still negative. TCPC was also a bad performer in the overall market in the last year.
Although the technical rating is only medium, TCPC does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 7.91. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 7.87, a Stop Loss order could be placed below this zone.
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7.20
When analyzing the support we can see 2 important areas.
- A support zone ranging from 7.56 to 7.87. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @7.27 from a horizontal line in the daily time frame.
We can see 3 important resistance areas.
- A resistance zone ranging from 7.91 to 8.05. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @8.41 from a trend line in the weekly time frame.
- Resistance @9.41 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for TCPC is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for TCPC is up. |
| ChartMill Relative Strength | 19.94 | NEGATIVE | TCPC has a low relative strength, it was outperformed by 80.06% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of TCPC is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of TCPC is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of TCPC is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 59.83 | NEUTRAL | The RSI value for TCPC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.02 | POSITIVE | The MACD value suggests TCPC has a positive trend. |
| Stochastics (14,3) | 87.15 | OVERBOUGHT | The high Stochastics value suggests TCPC may be overbought. |
| Average True Range in percent/ATR (20) | 2.22 | MEDIUM VOLATILITY | The ATR as a percentage value for TCPC suggests some volalility. |
| Average Directional Index/ADX (14) | 13.42 | NEGATIVE | The low ADX value for TCPC suggests a weak or negative trend. |
7.9
+0.03 (+0.38%)