POWERSHARES FUNDAMENTAL HIGH YIELD ETF Forecast

Evaluation of POWERSHARES FUNDAMENTAL HIGH YIELD ETF downgraded after the last trading session.
(Updated on Jun 28, 2024)

PHB Signals & Forecast

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 POWERSHARES FUNDAMENTAL HIGH YIELD ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $18.04 and $18.03. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -0.88%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely. The ETF had a Golden Star Signal on Wednesday, August 30, 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.

Buy

Special Signal Notification

Golden Star 12 Months

The ETF had a Golden Star Signal on Wednesday, August 30, 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.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Friday, June 21, 2024 and based on theory for this formation the price should fall by -1.30% to $17.74 within 25 trading days since signal was issued (Monday, July 29, 2024).

Support, Risk & Stop-loss for POWERSHARES FUNDAMENTAL HIGH YIELD ETF

POWERSHARES FUNDAMENTAL HIGH YIELD finds support from accumulated volume at $17.88 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 $0.0899 between high and low, or 0.500%. For the last week the ETF has had daily average volatility of 0.245%.

Our recommended stop-loss: $17.38 (-3.27%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 7 days ago.)

Trading Expectations (PHB) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect POWERSHARES FUNDAMENTAL HIGH YIELD CORPORATE BOND PORTFOLIO to open at $18.00, and during the day (based on 14 day Average True Range), to move between $17.91 and $18.03, which gives a possible trading interval of +/-$0.0639 (+/-0.36%) up or down from last closing price. If POWERSHARES FUNDAMENTAL HIGH YIELD CORPORATE BOND PORTFOLIO takes out the full calculated possible swing range there will be an estimated 0.71% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $17.98 (0.06%) than the support at $17.88 (0.50%), 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 FUNDAMENTAL HIGH YIELD CORPORATE BOND PORTFOLIO ETF A Buy?

POWERSHARES FUNDAMENTAL HIGH YIELD holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.373 Hold/Accumulate Downgraded

Predicted Opening Price for POWERSHARES FUNDAMENTAL HIGH YIELD CORPORATE BOND PORTFOLIO of Monday, July 1, 2024

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