John Hancock Preferred Income Fund III Stock Forecast
Evaluation of John Hancock Preferred Income Fund III stock downgraded after the last trading session.
(Updated on Apr 25, 2024)
The John Hancock Preferred Income Fund III stock price fell by -1.32% on the last day (Thursday, 25th Apr 2024) from $15.15 to $14.95. During the last trading day the stock fluctuated 0.94% from a day low at $14.86 to a day high of $15.00. The price has risen in 5 of the last 10 days but is still down by -0.99% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -8 thousand shares and in total, 38 thousand shares were bought and sold for approximately $562.60 thousand.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.09% during the next 3 months and, with a 90% probability hold a price between $14.95 and $15.85 at the end of this 3-month period.
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HPS Signals & Forecast
There are mixed signals in the stock today. The John Hancock Preferred Income Fund III stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $15.12. On a fall, the stock will find some support from the short-term average at $14.91. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -1.32%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for John Hancock Preferred Income Fund III stock
John Hancock Preferred Income Fund III finds support from accumulated volume at $14.91 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 $0.140 between high and low, or 0.94%. For the last week the stock has had daily average volatility of 1.20%
Our recommended stop-loss: $14.25 (-4.70%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (HPS) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect John Hancock Preferred Income Fund III to open at $14.94, and during the day (based on 14 day Average True Range), to move between $14.74 and $15.16, which gives a possible trading interval of +/-$0.209 (+/-1.40%) up or down from last closing price. If John Hancock Preferred Income Fund III takes out the full calculated possible swing range there will be an estimated 2.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $14.91 (0.27%) than the resistance at $15.10 (1.00%), 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 Preferred Income Fund III stock A Buy?
John Hancock Preferred Income Fund III 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: 0.324 Hold/Accumulate Downgraded
Predicted Opening Price for John Hancock Preferred Income Fund III of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$14.94 ( 0.0892%) | $14.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HPS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 15.08 | 0.85 % | |
R2 | 15.02 | 0.490 % | ||
R1 | 14.99 | 0.269 % | ||
Current price: | 14.95 | |||
Support | S1 | 14.88 | -0.447 % | |
S2 | 14.85 | -0.668 % | ||
S3 | 14.80 | -1.03 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 15.43 | 3.21 % | |
R2 | 15.27 | 2.14 % | ||
R1 | 15.10 | 1.00 % | ||
Current price | 14.95 | |||
Support | S1 | 14.91 | -0.268% | |
S2 | 14.87 | -0.535% | ||
S3 | 14.60 | -2.34% |
HPS Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 01, 2024 | Apr 10, 2024 | Apr 30, 2024 | $0.110 | 0.736% |
2 | Mar 01, 2024 | Mar 08, 2024 | Mar 28, 2024 | $0.110 | 0.713% |
3 | Feb 01, 2024 | Feb 09, 2024 | Feb 29, 2024 | $0.110 | 0.724% |
4 | Jan 02, 2024 | Jan 11, 2024 | Jan 31, 2024 | $0.110 | 0.738% |
5 | Dec 01, 2023 | Dec 08, 2023 | Dec 29, 2023 | $0.110 | 0.778% |
FAQ
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