Pimco Corporate & Income Opportunity Stock Forecast

Pimco Corporate & Income Opportunity stock upgraded to Hold/Accumulate.
(Updated on May 21, 2024)

PTY Signals & Forecast

The Pimco Corporate & Income Opportunity stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $14.17 and $14.23. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Friday, May 03, 2024, and so far it has fallen -1.52%. 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).

Support, Risk & Stop-loss for Pimco Corporate & Income Opportunity stock

Pimco Corporate & Income Opportunity finds support from accumulated volume at $14.21 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 $0.0600 between high and low, or 0.421%. For the last week the stock has had daily average volatility of 0.537%.

Our recommended stop-loss: $13.76 (-3.72%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 26 days ago.)

Trading Expectations (PTY) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect Pimco Corporate & Income Opportunity Fund to open at $14.28, and during the day (based on 14 day Average True Range), to move between $14.15 and $14.43, which gives a possible trading interval of +/-$0.135 (+/-0.95%) up or down from last closing price. If Pimco Corporate & Income Opportunity Fund takes out the full calculated possible swing range there will be an estimated 1.89% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $14.30 (0.07%) than the support at $14.21 (0.56%), 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 Pimco Corporate & Income Opportunity Fund stock A Buy?

Pimco Corporate & Income Opportunity holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.565 Hold/Accumulate Upgraded

Predicted Opening Price for Pimco Corporate & Income Opportunity Fund of Wednesday, May 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.