POWERSHARES TAXABLE MUNICIPAL BOND Stock Forecast
POWERSHARES TAXABLE MUNICIPAL BOND stock downgraded to Sell Candidate
(Updated on Apr 30, 2024)
The POWERSHARES TAXABLE MUNICIPAL BOND stock price fell by -1.26% on the last day (Tuesday, 30th Apr 2024) from £514.00 to £507.50. During the last trading day the stock fluctuated 3.76% from a day low at £505.50 to a day high of £524.50. The price has risen in 6 of the last 10 days and is up by 1.5% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -248 thousand shares and in total, 389 thousand shares were bought and sold for approximately £197.55 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 12.15% during the next 3 months and, with a 90% probability hold a price between £537.73 and £622.76 at the end of this 3-month period.
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BAB.L 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 POWERSHARES TAXABLE MUNICIPAL BOND 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 £513.21 and £513.39. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -4.78%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for POWERSHARES TAXABLE MUNICIPAL BOND stock
POWERSHARES TAXABLE MUNICIPAL BOND finds support from accumulated volume at £500.50 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 £19.00 between high and low, or 3.76%. For the last week the stock has had daily average volatility of 2.38%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BAB.L) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect POWERSHARES TAXABLE MUNICIPAL BOND PORTFOLIO to open at £512.50, and during the day (based on 14 day Average True Range), to move between £494.87 and £520.13, which gives a possible trading interval of +/-£12.63 (+/-2.49%) up or down from last closing price. If POWERSHARES TAXABLE MUNICIPAL BOND PORTFOLIO takes out the full calculated possible swing range there will be an estimated 4.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £509.50 (0.39%) than the support at £500.50 (1.38%), 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 POWERSHARES TAXABLE MUNICIPAL BOND PORTFOLIO stock A Buy?
The POWERSHARES TAXABLE MUNICIPAL BOND stock holds several negative signals and despite the positive trend, we believe POWERSHARES TAXABLE MUNICIPAL BOND will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.778 Sell Candidate Downgraded
Predicted Opening Price for POWERSHARES TAXABLE MUNICIPAL BOND PORTFOLIO of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| £512.50 ( 0.99%) | £507.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAB.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 531.50 | 4.73 % | |
| R2 | 524.24 | 3.30 % | ||
| R1 | 519.76 | 2.42 % | ||
| Current price: | 507.50 | |||
| Support | S1 | 505.24 | -0.445 % | |
| S2 | 500.76 | -1.33 % | ||
| S3 | 493.50 | -2.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 533.00 | 5.02 % | |
| R2 | 513.50 | 1.18 % | ||
| R1 | 509.50 | 0.394 % | ||
| Current price | 507.50 | |||
| Support | S1 | 500.50 | -1.38% | |
| S2 | 493.20 | -2.82% | ||
| S3 | 490.20 | -3.41% |
BAB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 23, 2023 | Nov 23, 2023 | Nov 23, 2023 | £0 | 0% |
| 2 | Nov 20, 2019 | Dec 05, 2019 | Jan 17, 2020 | £7.20 | 1.16% |
| 3 | May 22, 2019 | Jul 04, 2019 | Aug 09, 2019 | £22.90 | 4.80% |
| 4 | Nov 21, 2018 | Dec 06, 2018 | Jan 16, 2019 | £7.10 | 1.30% |
| 5 | May 23, 2018 | Jun 28, 2018 | Aug 10, 2018 | £22.65 | 3.11% |
FAQ
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