John Hancock Preferred Income Fund III Stock Forecast
Stronger technical forecast for John Hancock Preferred Income Fund III stock price after Tuesday trading.
(Updated on May 07, 2024)
The John Hancock Preferred Income Fund III stock price fell by -0.576% on the last day (Tuesday, 7th May 2024) from $15.63 to $15.54. During the last trading day the stock fluctuated 1.35% from a day low at $15.54 to a day high of $15.75. The price has risen in 7 of the last 10 days and is up by 2.91% over the past 2 weeks. Volume has increased on the last day by 36 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 86 thousand shares were bought and sold for approximately $1.34 million.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $15.63 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect John Hancock Preferred Income Fund III stock with a 90% probability to be traded between $14.93 and $15.91 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
HPS Signals & Forecast
The John Hancock Preferred Income Fund III stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $15.32 and $15.16. 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 -0.576%. Further fall is indicated until a new bottom pivot has been found. John Hancock Preferred Income Fund III gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for John Hancock Preferred Income Fund III stock
John Hancock Preferred Income Fund III finds support from accumulated volume at $15.27 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 $0.210 between high and low, or 1.35%. For the last week the stock has had daily average volatility of 1.19%.
Our recommended stop-loss: $15.11 (-2.78%) (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 Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect John Hancock Preferred Income Fund III to open at $15.61, and during the day (based on 14 day Average True Range), to move between $15.34 and $15.74, which gives a possible trading interval of +/-$0.201 (+/-1.29%) 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 2.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $15.63 (0.58%) than the support at $15.27 (1.74%), 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 John Hancock Preferred Income Fund III stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for John Hancock Preferred Income Fund III stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.329 Buy Candidate Upgraded
Predicted Opening Price for John Hancock Preferred Income Fund III of Wednesday, May 8, 2024
Fair opening price May 8, 2024 | Current price |
---|---|
$15.61 ( 0.450%) | $15.54 |
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 | 15.82 | 1.80 % | |
R2 | 15.74 | 1.29 % | ||
R1 | 15.69 | 0.97 % | ||
Current price: | 15.54 | |||
Support | S1 | 15.53 | -0.0658 % | |
S2 | 15.48 | -0.385 % | ||
S3 | 15.40 | -0.90 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 15.63 | 0.579 % | ||
Current price | 15.54 | |||
Support | S1 | 15.27 | -1.74% | |
S2 | 15.10 | -2.83% | ||
S3 | 14.91 | -4.05% |
HPS Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 01, 2024 | Apr 10, 2024 | Apr 30, 2024 | $0.110 | 0.731% |
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
Click here for our free guide on how to buy John Hancock Preferred Income Fund III Stock.