Putnam High Income Bond Fund Stock Forecast
Weaker technical forecast for Putnam High Income Bond Fund as stock downgraded to Sell Candidate.
(Updated on May 01, 2024)
The Putnam High Income Bond Fund stock price gained 0.95% on the last trading day (Wednesday, 1st May 2024), rising from $6.33 to $6.39. During the last trading day the stock fluctuated 0.472% from a day low at $6.36 to a day high of $6.39. The price has fallen in 5 of the last 10 days but is still up by 0.79% over the past 2 weeks. Volume fell on the last day by -108 thousand shares and in total, 30 thousand shares were bought and sold for approximately $189.16 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.74% during the next 3 months and, with a 90% probability hold a price between $5.94 and $6.51 at the end of this 3-month period.
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PCF Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.06%. Further rise is indicated until a new top pivot has been found. 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. The Putnam High Income Bond Fund 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 $6.52. On a fall, the stock will find some support from the short-term average at $6.37. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Putnam High Income Bond Fund stock
Putnam High Income Bond Fund finds support from accumulated volume at $6.36 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 $0.0300 between high and low, or 0.472%. For the last week the stock has had daily average volatility of 1.05%
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 Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Putnam High Income Bond Fund to open at $6.38, and during the day (based on 14 day Average True Range), to move between $6.30 and $6.48, which gives a possible trading interval of +/-$0.0877 (+/-1.37%) 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 2.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.36 (0.47%) than the resistance at $6.49 (1.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Putnam High Income Bond Fund will release earnings BMO on Monday, May 06, 2024. We will update the financials statements for Putnam High Income Bond Fund, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.20% in the first trading day after earnings release.
Is Putnam High Income Bond Fund stock A Buy?
Putnam High Income Bond Fund holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.192 Sell Candidate Downgraded
Predicted Opening Price for Putnam High Income Bond Fund of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$6.38 ( 0.156%) | $6.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PCF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.41 | 0.313 % | |
R2 | 6.40 | 0.134 % | ||
R1 | 6.39 | 0.0228 % | ||
Current price: | 6.39 | |||
Support | S1 | 6.37 | -0.336 % | |
S2 | 6.36 | -0.447 % | ||
S3 | 6.35 | -0.626 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.96 | 8.92 % | |
R2 | 6.55 | 2.50 % | ||
R1 | 6.49 | 1.56 % | ||
Current price | 6.39 | |||
Support | S1 | 6.36 | -0.469% | |
S2 | 6.30 | -1.41% | ||
S3 | 6.20 | -2.97% |
PCF Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 03, 2024 | Jun 18, 2024 | Jun 28, 2024 | $0.0622 | 0.97% |
2 | Apr 03, 2024 | May 20, 2024 | May 31, 2024 | $0.0622 | 0.97% |
3 | Apr 03, 2024 | Apr 18, 2024 | Apr 30, 2024 | $0.0622 | 0.98% |
4 | Jan 04, 2024 | Mar 19, 2024 | Mar 29, 2024 | $0.0622 | 0.92% |
5 | Jan 04, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.0622 | 0.92% |
FAQ
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