Pgim Floating Rate Income Etf ETF Forecast
Red day on Wednesday for Pgim Floating Rate Income Etf
(Updated on Jun 26, 2024)
The Pgim Floating Rate Income Etf ETF price fell by -0.0394% on the last day (Wednesday, 26th Jun 2024) from $50.56 to $50.54. During the last trading day the ETF fluctuated 0.177% from a day low at $50.46 to a day high of $50.55. The price has fallen in 6 of the last 10 days but is still up by 0.08% over the past 2 weeks. Volume has increased on the last day by 7 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, 9 thousand shares were bought and sold for approximately $433.73 thousand.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Pgim Floating Rate Income Etf ETF with a 90% probability to be traded between $50.21 and $50.73 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 ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PFRL Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 0.198%. 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 Pgim Floating Rate Income Etf ETF 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 ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $50.61. On a fall, the ETF will find some support from the short-term average at $50.54. 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. Pgim Floating Rate Income Etf 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". The ETF had a Golden Star Signal on Tuesday, May 07, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Tuesday, May 07, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
A buy signal from a double bottom formation was found on Friday, June 14, 2024 and based on theory for this formation the price should go up by 0.670% to $50.88 within 31 trading days since signal was issued (Wednesday, July 31, 2024).
Support, Risk & Stop-loss for Pgim Floating Rate Income Etf ETF
Pgim Floating Rate Income Etf finds support from accumulated volume at $50.51 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 $0.0892 between high and low, or 0.177%. For the last week the ETF has had daily average volatility of 0.197%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PFRL) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Pgim Floating Rate Income Etf to open at $50.52, and during the day (based on 14 day Average True Range), to move between $50.44 and $50.64, which gives a possible trading interval of +/-$0.103 (+/-0.20%) up or down from last closing price. If Pgim Floating Rate Income Etf takes out the full calculated possible swing range there will be an estimated 0.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $50.51 (0.06%) than the resistance at $50.60 (0.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Pgim Floating Rate Income Etf ETF A Buy?
Pgim Floating Rate Income Etf 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 ETF.
Current score: -1.483 Sell Candidate Unchanged
Predicted Opening Price for Pgim Floating Rate Income Etf of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $50.52 ( 0.0467%) | $50.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PFRL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 50.61 | 0.130% |
| R2 | 50.57 | 0.0624% |
| R1 | 50.55 | 0.0207% |
| Price | 50.54 | |
| S1 | 50.48 | -0.114% |
| S2 | 50.46 | -0.156% |
| S3 | 50.43 | -0.223% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 50.80 | 0.505% |
| R2 | 50.71 | 0.336% |
| R1 | 50.60 | 0.119% |
| Price | 50.54 | |
| S1 | 50.51 | -0.0594% |
| S2 | 50.50 | -0.0791% |
| S3 | 50.48 | -0.119% |
FAQ
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