Putnam High Income Bond Fund Stock Forecast

Red day on Friday for Putnam High Income Bond Fund stock after losing 0.800%
(Updated on Apr 19, 2024)

PCF Signals & Forecast

There are few to no technical positive signals at the moment. The Putnam High Income Bond Fund stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $6.34 and $6.61. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, February 26, 2024, and so far it has fallen -10.92%. 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). Putnam High Income Bond Fund 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 Putnam High Income Bond Fund stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.1000 (1.61%) between high and low. For the last week, the stock has had daily average volatility of 1.57%.

Putnam High Income Bond Fund is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PCF) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Putnam High Income Bond Fund to open at $6.23, and during the day (based on 14 day Average True Range), to move between $6.11 and $6.29, which gives a possible trading interval of +/-$0.0932 (+/-1.50%) up or down from last closing price. If Putnam High Income Bond Fund takes out the full calculated possible swing range there will be an estimated 3.01% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $6.49, some $0.290 (4.68%) from the current price of $6.20, our system finds the risk reward not very attractive.

Is Putnam High Income Bond Fund stock A Buy?

Putnam High Income Bond Fund holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -2.466 Sell Candidate Unchanged

Predicted Opening Price for Putnam High Income Bond Fund of Monday, April 22, 2024

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