DoubleLine Income Solutions Fund Stock Forecast

DoubleLine Income Solutions Fund stock downgraded to Hold/Accumulate
(Updated on May 07, 2024)

DSL Signals & Forecast

The DoubleLine Income Solutions 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 $12.40 and $12.41. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -0.317%. 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 DoubleLine Income Solutions Fund stock

DoubleLine Income Solutions Fund finds support from accumulated volume at $12.52 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 $0.175 between high and low, or 1.40%. For the last week the stock has had daily average volatility of 1.14%.

The DoubleLine Income Solutions 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: $12.12 (-3.54%) (This stock has low daily movements and this gives low risk. The RSI14 is 79 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (DSL) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect DoubleLine Income Solutions Fund to open at $12.60, and during the day (based on 14 day Average True Range), to move between $12.42 and $12.72, which gives a possible trading interval of +/-$0.155 (+/-1.23%) up or down from last closing price. If DoubleLine Income Solutions Fund takes out the full calculated possible swing range there will be an estimated 2.46% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $12.52 (0.40%) than the resistance at $12.64 (0.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is DoubleLine Income Solutions Fund stock A Buy?

DoubleLine Income Solutions Fund holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.643 Hold/Accumulate Downgraded

Predicted Opening Price for DoubleLine Income Solutions Fund of Wednesday, May 8, 2024

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