Doubleline Opportunistic Credit Fund Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Doubleline Opportunistic Credit Fund stock price ended at $15.27 on Monday, after gaining 0.197%.
(Updated on May 06, 2024)
The Doubleline Opportunistic Credit Fund stock price gained 0.197% on the last trading day (Monday, 6th May 2024), rising from $15.24 to $15.27. During the last trading day the stock fluctuated 0.646% from a day low at $15.22 to a day high of $15.32. The price has risen in 5 of the last 10 days and is up by 3.11% over the past 2 weeks. Volume fell on the last day by -26 thousand shares and in total, 39 thousand shares were bought and sold for approximately $601.91 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a narrow and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $15.28 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.11% during the next 3 months and, with a 90% probability hold a price between $14.25 and $14.96 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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DBL Signals & Forecast
The Doubleline Opportunistic Credit Fund 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 $15.03 and $15.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 4.30%. Further rise is indicated until a new top pivot has been found. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The stock had a Golden Star Signal on Monday, August 07, 2023 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 stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, August 07, 2023 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 stock in question.
Support, Risk & Stop-loss for Doubleline Opportunistic Credit Fund stock
Doubleline Opportunistic Credit Fund finds support from accumulated volume at $15.25 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0983 between high and low, or 0.646%. For the last week the stock has had daily average volatility of 1.20%
The Doubleline Opportunistic Credit Fund stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $14.58 (-4.51%) (This stock has low daily movements and this gives low risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (DBL) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Doubleline Opportunistic Credit Fund to open at $15.27, and during the day (based on 14 day Average True Range), to move between $15.12 and $15.42, which gives a possible trading interval of +/-$0.147 (+/-0.96%) up or down from last closing price. If Doubleline Opportunistic Credit Fund takes out the full calculated possible swing range there will be an estimated 1.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.28 (0.07%) than the support at $15.25 (0.13%), 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 Doubleline Opportunistic Credit 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.
Current score: 2.873 Buy Candidate Unchanged
Predicted Opening Price for Doubleline Opportunistic Credit Fund of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $15.27 ( 0.0037%) | $15.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DBL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.37 | 0.647 % | |
| R2 | 15.33 | 0.402 % | ||
| R1 | 15.31 | 0.250 % | ||
| Current price: | 15.27 | |||
| Support | S1 | 15.23 | -0.242 % | |
| S2 | 15.21 | -0.394 % | ||
| S3 | 15.17 | -0.640 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15.48 | 1.38 % | |
| R2 | 15.30 | 0.196 % | ||
| R1 | 15.28 | 0.0655 % | ||
| Current price | 15.27 | |||
| Support | S1 | 15.25 | -0.131% | |
| S2 | 15.22 | -0.327% | ||
| S3 | 14.65 | -4.06% |
DBL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2024 | May 15, 2024 | May 31, 2024 | $0.110 | 0.720% |
| 2 | Apr 17, 2024 | Apr 17, 2024 | Apr 30, 2024 | $0.110 | 0.738% |
| 3 | Mar 13, 2024 | Mar 13, 2024 | Mar 28, 2024 | $0.110 | 0.713% |
| 4 | Feb 01, 2024 | Feb 14, 2024 | Feb 29, 2024 | $0.110 | 0.723% |
| 5 | Jan 02, 2024 | Jan 17, 2024 | Jan 31, 2024 | $0.110 | 0.713% |
FAQ
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