Putnam Municipal Opportunities Trust Stock Forecast
Red day on Friday for Putnam Municipal Opportunities Trust stock after losing 0.0513%
(Updated on Apr 26, 2024)
The Putnam Municipal Opportunities Trust stock price fell by -0.0513% on the last day (Friday, 26th Apr 2024) from $9.76 to $9.75. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 0.770% from a day low at $9.74 to a day high of $9.82. The price has fallen in 7 of the last 10 days and is down by -1.12% for this period. Volume has increased on the last day by 34 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 54 thousand shares were bought and sold for approximately $525.96 thousand.
The stock lies in the middle of a narrow and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.51% during the next 3 months and, with a 90% probability hold a price between $9.00 and $9.41 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PMO Signals & Forecast
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. The Putnam Municipal Opportunities Trust 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 $9.80 and $10.02. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -5.34%. Further fall is indicated until a new bottom pivot has been found. Putnam Municipal Opportunities Trust gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Putnam Municipal Opportunities Trust stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0750 between high and low, or 0.770%. For the last week the stock has had daily average volatility of 0.607%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PMO) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Putnam Municipal Opportunities Trust to open at $9.77, and during the day (based on 14 day Average True Range), to move between $9.67 and $9.83, which gives a possible trading interval of +/-$0.0794 (+/-0.81%) up or down from last closing price. If Putnam Municipal Opportunities Trust takes out the full calculated possible swing range there will be an estimated 1.63% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $10.03, some $0.280 (2.87%) from the current price of $9.75, our system finds the risk reward not very attractive.
Is Putnam Municipal Opportunities Trust stock A Buy?
Putnam Municipal Opportunities Trust holds several negative signals and is within a narrow and 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.
Current score: -2.687 Sell Candidate Unchanged
Predicted Opening Price for Putnam Municipal Opportunities Trust of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $9.77 ( 0.188%) | $9.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PMO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.84 | 0.96 % | |
| R2 | 9.81 | 0.663 % | ||
| R1 | 9.80 | 0.482 % | ||
| Current price: | 9.75 | |||
| Support | S1 | 9.74 | -0.106 % | |
| S2 | 9.72 | -0.287 % | ||
| S3 | 9.69 | -0.581 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.30 | 5.64 % | |
| R2 | 10.19 | 4.51 % | ||
| R1 | 10.03 | 2.87 % | ||
| Current price | 9.75 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
PMO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 19, 2024 | May 23, 2024 | Jun 03, 2024 | $0.0350 | 0.359% |
| 2 | Apr 23, 2024 | Apr 23, 2024 | May 01, 2024 | $0.0350 | 0.359% |
| 3 | Jan 29, 2024 | Mar 21, 2024 | Apr 01, 2024 | $0.0350 | 0.347% |
| 4 | Jan 26, 2024 | Feb 22, 2024 | Mar 01, 2024 | $0.0350 | 0.344% |
| 5 | Nov 17, 2023 | Jan 23, 2024 | Feb 01, 2024 | $0.0350 | 0.336% |
FAQ
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