PowerShares DB Optimum Yield Diversified ETF Forecast
Green day on Tuesday for PowerShares DB Optimum Yield Diversified
(Updated on Apr 23, 2024)
The PowerShares DB Optimum Yield Diversified ETF price gained 0.424% on the last trading day (Tuesday, 23rd Apr 2024), rising from $14.16 to $14.22. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 1.50% from a day low at $14.02 to a day high of $14.23. The price has risen in 5 of the last 10 days but is still down by -0.56% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately $106.15 million.
The ETF 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 ETF is expected to rise 8.18% during the next 3 months and, with a 90% probability hold a price between $14.99 and $15.76 at the end of this 3-month period.
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PDBC Signals & Forecast
The PowerShares DB Optimum Yield Diversified ETF 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 $14.20 and $13.94. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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, April 08, 2024, and so far it has fallen -1.04%. 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).
Support, Risk & Stop-loss for PowerShares DB Optimum Yield Diversified ETF
PowerShares DB Optimum Yield Diversified finds support from accumulated volume at $13.63 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.210 between high and low, or 1.50%. For the last week the ETF has had daily average volatility of 1.18%.
Our recommended stop-loss: $13.61 (-4.27%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (PDBC) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect PowerShares DB Optimum Yield Diversified Commodity Strategy Po to open at $14.16, and during the day (based on 14 day Average True Range), to move between $14.06 and $14.38, which gives a possible trading interval of +/-$0.156 (+/-1.10%) up or down from last closing price. If PowerShares DB Optimum Yield Diversified Commodity Strategy Po takes out the full calculated possible swing range there will be an estimated 2.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.27 (0.35%) than the support at $13.63 (4.15%), 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 PowerShares DB Optimum Yield Diversified Commodity Strategy Po ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for PowerShares DB Optimum Yield Diversified ETF to perform well in the short-term.
Current score: 2.631 Buy Candidate Unchanged
Predicted Opening Price for PowerShares DB Optimum Yield Diversified Commodity Strategy Po of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $14.16 ( 0.445%) | $14.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PDBC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.37 | 1.03 % | |
| R2 | 14.29 | 0.467 % | ||
| R1 | 14.24 | 0.119 % | ||
| Current price: | 14.22 | |||
| Support | S1 | 14.08 | -1.01 % | |
| S2 | 14.03 | -1.36 % | ||
| S3 | 13.95 | -1.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.37 | 1.05 % | |
| R2 | 14.33 | 0.774 % | ||
| R1 | 14.27 | 0.352 % | ||
| Current price | 14.22 | |||
| Support | S1 | 13.63 | -4.15% | |
| S2 | 13.58 | -4.50% | ||
| S3 | 13.39 | -5.84% |
PDBC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 18, 2023 | Dec 18, 2023 | Dec 22, 2023 | $0.560 | 4.18% |
| 2 | Dec 16, 2022 | Dec 19, 2022 | Dec 23, 2022 | $1.93 | 13.13% |
| 3 | Dec 20, 2021 | Dec 20, 2021 | Dec 31, 2021 | $1.76 | 12.50% |
| 4 | Dec 02, 2021 | Dec 03, 2021 | Dec 10, 2021 | $5.39 | 34.71% |
| 5 | Dec 18, 2020 | Dec 21, 2020 | Dec 31, 2020 | $0.0010 | 0.0066% |
FAQ
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