Putnam Focused Large Cap Growth Etf ETF Forecast
Putnam Focused Large Cap Growth Etf ETF downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Putnam Focused Large Cap Growth Etf ETF price gained 0.227% on the last trading day (Tuesday, 25th Jun 2024), rising from $35.16 to $35.24. During the last trading day the ETF fluctuated 0.403% from a day low at $35.24 to a day high of $35.38. The price has risen in 6 of the last 10 days and is up by 2.85% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 thousand more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately $81.26 thousand.
The ETF lies in the middle of a strong 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 10.83% during the next 3 months and, with a 90% probability hold a price between $36.66 and $40.17 at the end of this 3-month period.
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PGRO Signals & Forecast
The Putnam Focused Large Cap Growth Etf ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $35.53. On a fall, the ETF will find some support from the long-term average at approximately $33.84. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Putnam Focused Large Cap Growth Etf has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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, June 17, 2024, and so far it has fallen -2.01%. Further fall is indicated until a new bottom pivot has been found. The ETF had a Golden Star Signal on Friday, October 06, 2023 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 Friday, October 06, 2023 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.
Support, Risk & Stop-loss for Putnam Focused Large Cap Growth Etf ETF
On the downside, the ETF finds support just below today's level from accumulated volume at $32.50 and $32.06. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, Putnam Focused Large Cap Growth Etf finds support just below today's level at $32.50. If this is broken, then the next support from accumulated volume will be at $32.06 and $31.24.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.142 between high and low, or 0.403%. For the last week, the ETF has had daily average volatility of 0.593%.
Our recommended stop-loss: $33.67 (-4.46%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 45 days ago.)
Trading Expectations (PGRO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Putnam Focused Large Cap Growth Etf to open at $35.29, and during the day (based on 14 day Average True Range), to move between $34.93 and $35.55, which gives a possible trading interval of +/-$0.308 (+/-0.87%) up or down from last closing price. If Putnam Focused Large Cap Growth Etf takes out the full calculated possible swing range there will be an estimated 1.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $35.46 (0.62%) than the support at $32.50 (7.78%), 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 Putnam Focused Large Cap Growth Etf ETF A Buy?
Putnam Focused Large Cap Growth Etf holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.716 Hold/Accumulate Downgraded
Predicted Opening Price for Putnam Focused Large Cap Growth Etf of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$35.29 ( 0.134%) | $35.24 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PGRO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 35.43 | 0.537% |
R2 | 35.38 | 0.383% |
R1 | 35.34 | 0.288% |
Price | 35.24 | |
S1 | 35.23 | -0.0196% |
S2 | 35.20 | -0.115% |
S3 | 35.15 | -0.269% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 35.92 | 1.92% |
R2 | 35.53 | 0.82% |
R1 | 35.46 | 0.624% |
Price | 35.24 | |
S1 | 32.50 | -7.78% |
S2 | 32.06 | -9.02% |
S3 | 31.24 | -11.35% |
PGRO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 05, 2023 | Dec 06, 2023 | Dec 11, 2023 | $0.0542 | 0.192% |
2 | Dec 05, 2022 | Dec 06, 2022 | Dec 09, 2022 | $0.0240 | 0.115% |
FAQ
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