Pioneer Floating Rate Trust Stock Forecast
Pioneer Floating Rate Trust stock downgraded to Sell Candidate
(Updated on Apr 24, 2024)
The Pioneer Floating Rate Trust stock price fell by -0.365% on the last day (Wednesday, 24th Apr 2024) from $9.59 to $9.56. During the last trading day the stock fluctuated 0.89% from a day low at $9.54 to a day high of $9.62. The price has fallen in 5 of the last 10 days and is down by -1.09% for this period. Volume has increased on the last day by 31 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, 68 thousand shares were bought and sold for approximately $653.72 thousand.
The stock has broken the narrow and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $9.56 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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PHD Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 0.0524%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Pioneer Floating Rate Trust stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $9.58 and $9.67. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Pioneer Floating Rate Trust 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".
Support, Risk & Stop-loss for Pioneer Floating Rate Trust stock
Pioneer Floating Rate Trust finds support from accumulated volume at $9.55 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0850 between high and low, or 0.89%. For the last week the stock has had daily average volatility of 0.596%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PHD) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Pioneer Floating Rate Trust to open at $9.57, and during the day (based on 14 day Average True Range), to move between $9.49 and $9.62, which gives a possible trading interval of +/-$0.0637 (+/-0.67%) up or down from last closing price. If Pioneer Floating Rate Trust takes out the full calculated possible swing range there will be an estimated 1.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.55 (0.05%) than the resistance at $9.65 (0.99%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Pioneer Floating Rate Trust stock A Buy?
Pioneer Floating Rate Trust holds several negative signals and is within a narrow and falling trend, so we believe 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 Buy to a Sell candidate.
Current score: -1.275 Sell Candidate Downgraded
Predicted Opening Price for Pioneer Floating Rate Trust of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$9.57 ( 0.157%) | $9.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PHD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.66 | 1.05 % | |
R2 | 9.62 | 0.707 % | ||
R1 | 9.60 | 0.497 % | ||
Current price: | 9.56 | |||
Support | S1 | 9.54 | -0.183 % | |
S2 | 9.52 | -0.393 % | ||
S3 | 9.49 | -0.733 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.69 | 1.41 % | |
R2 | 9.68 | 1.31 % | ||
R1 | 9.65 | 0.99 % | ||
Current price | 9.56 | |||
Support | S1 | 9.55 | -0.0523% | |
S2 | 9.53 | -0.262% | ||
S3 | 9.49 | -0.680% |
PHD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 18, 2024 | Apr 18, 2024 | Apr 30, 2024 | $0.0925 | 0.97% |
2 | Mar 04, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.0925 | 0.96% |
3 | Feb 06, 2024 | Feb 15, 2024 | Feb 29, 2024 | $0.0925 | 0.95% |
4 | Dec 18, 2023 | Dec 28, 2023 | Jan 08, 2024 | $0.0925 | 1.00% |
5 | Dec 01, 2023 | Dec 11, 2023 | Dec 19, 2023 | $0.0925 | 1.00% |
FAQ
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