PIMCO INVESTMENT GRADE CORPORATE BOND ETF Forecast

PIMCO INVESTMENT GRADE CORPORATE BOND ETF downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Jun 28, 2024)

CORP 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 PIMCO INVESTMENT GRADE CORPORATE BOND ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $95.63 and $95.11. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 25, 2024, and so far it has fallen -0.97%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely. The ETF had a Golden Star Signal on Monday, June 03, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for PIMCO INVESTMENT GRADE CORPORATE BOND ETF

PIMCO INVESTMENT GRADE CORPORATE BOND finds support from accumulated volume at $94.13 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.650 between high and low, or 0.684%. For the last week the ETF has had daily average volatility of 0.314%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CORP) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect PIMCO INVESTMENT GRADE CORPORATE BOND INDEX FUND to open at $95.29, and during the day (based on 14 day Average True Range), to move between $94.64 and $95.50, which gives a possible trading interval of +/-$0.430 (+/-0.45%) up or down from last closing price. If PIMCO INVESTMENT GRADE CORPORATE BOND INDEX FUND takes out the full calculated possible swing range there will be an estimated 0.90% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $95.53 (0.48%) than the support at $94.13 (0.99%), 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 INVESTMENT GRADE CORPORATE BOND INDEX FUND ETF A Buy?

PIMCO INVESTMENT GRADE CORPORATE BOND 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 ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.715 Sell Candidate Downgraded

Predicted Opening Price for PIMCO INVESTMENT GRADE CORPORATE BOND INDEX FUND of Monday, July 1, 2024

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