Prudential Global Short Duration High Stock Forecast

Prudential Global Short Duration High stock price ended at $11.69 on Friday, after losing 0%.
(Updated on May 10, 2024)

GHY Signals & Forecast

The Prudential Global Short Duration High stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $11.70. On a fall, the stock will find some support from the long-term average at approximately $11.59. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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 Tuesday, May 07, 2024, and so far it has fallen -0.85%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Tuesday, April 30, 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 stock in question.

Support, Risk & Stop-loss for Prudential Global Short Duration High stock

Prudential Global Short Duration High finds support from accumulated volume at $11.57 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 $0.0700 between high and low, or 0.601%. For the last week the stock has had daily average volatility of 0.530%.

Our recommended stop-loss: $11.23 (-3.93%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (GHY) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Prudential Global Short Duration High Yield Fund Inc to open at $11.69, and during the day (based on 14 day Average True Range), to move between $11.60 and $11.78, which gives a possible trading interval of +/-$0.0946 (+/-0.81%) up or down from last closing price. If Prudential Global Short Duration High Yield Fund Inc takes out the full calculated possible swing range there will be an estimated 1.62% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $11.71 (0.17%) than the support at $11.57 (1.03%), 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 Prudential Global Short Duration High Yield Fund Inc stock A Buy?

Prudential Global Short Duration High 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.

Current score: -0.571 Hold/Accumulate Unchanged

Predicted Opening Price for Prudential Global Short Duration High Yield Fund Inc of Monday, May 13, 2024

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