John Hancock Financial Opportunities Stock Forecast
Stronger technical forecast for John Hancock Financial Opportunities stock price after Tuesday trading.
(Updated on Apr 23, 2024)
The John Hancock Financial Opportunities stock price gained 1.59% on the last trading day (Tuesday, 23rd Apr 2024), rising from $27.72 to $28.16. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.83% from a day low at $27.85 to a day high of $28.36. The price has risen in 6 of the last 10 days but is still down by -0.56% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 6 thousand more shares were traded than the day before. In total, 39 thousand shares were bought and sold for approximately $1.11 million.
The stock lies in the middle of a wide 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 -8.41% during the next 3 months and, with a 90% probability hold a price between $23.95 and $26.43 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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BTO Signals & Forecast
The John Hancock Financial Opportunities 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 $27.01 and $28.03. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.83%. Further rise is indicated until a new top pivot has been found. John Hancock Financial Opportunities has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for John Hancock Financial Opportunities stock
John Hancock Financial Opportunities finds support from accumulated volume at $28.14 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.510 between high and low, or 1.83%. For the last week, the stock has had daily average volatility of 1.87%.
Our recommended stop-loss: $27.02 (-4.04%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (BTO) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect John Hancock Financial Opportunities Fund to open at $28.12, and during the day (based on 14 day Average True Range), to move between $27.56 and $28.76, which gives a possible trading interval of +/-$0.596 (+/-2.12%) up or down from last closing price. If John Hancock Financial Opportunities Fund takes out the full calculated possible swing range there will be an estimated 4.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $28.14 (0.07%) than the resistance at $28.39 (0.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is John Hancock Financial Opportunities Fund stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.349 Buy Candidate Upgraded
Predicted Opening Price for John Hancock Financial Opportunities Fund of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $28.12 ( 0.130%) | $28.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BTO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.63 | 1.68 % | |
| R2 | 28.44 | 0.99 % | ||
| R1 | 28.32 | 0.562 % | ||
| Current price: | 28.16 | |||
| Support | S1 | 27.93 | -0.82 % | |
| S2 | 27.81 | -1.25 % | ||
| S3 | 27.61 | -1.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.09 | 3.30 % | |
| R2 | 28.56 | 1.42 % | ||
| R1 | 28.39 | 0.82 % | ||
| Current price | 28.16 | |||
| Support | S1 | 28.14 | -0.0710% | |
| S2 | 26.56 | -5.68% | ||
| S3 | 26.36 | -6.39% |
BTO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 08, 2024 | Mar 08, 2024 | Mar 28, 2024 | $0.650 | 2.20% |
| 2 | Dec 01, 2023 | Dec 08, 2023 | Dec 29, 2023 | $0.650 | 2.16% |
| 3 | Sep 01, 2023 | Sep 08, 2023 | Sep 29, 2023 | $0.650 | 2.48% |
| 4 | Jun 01, 2023 | Jun 09, 2023 | Jun 30, 2023 | $0.650 | 2.42% |
| 5 | Mar 01, 2023 | Mar 10, 2023 | Mar 31, 2023 | $0.650 | 2.13% |
FAQ
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