Pioneer Floating Rate Trust Stock Forecast
Red day on Thursday for Pioneer Floating Rate Trust
(Updated on May 02, 2024)
The Pioneer Floating Rate Trust stock price fell by -0.104% on the last day (Thursday, 2nd May 2024) from $9.65 to $9.64. During the last trading day the stock fluctuated 0.625% from a day low at $9.60 to a day high of $9.66. The price has risen in 5 of the last 10 days and is up by 0.63% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -35 thousand shares and in total, 52 thousand shares were bought and sold for approximately $503.93 thousand.
The stock 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 Pioneer Floating Rate Trust stock with a 90% probability to be traded between $9.46 and $9.68 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 stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PHD Signals & Forecast
The Pioneer Floating Rate Trust stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $9.58 and $9.64. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 1.09%. 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. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Pioneer Floating Rate Trust stock
Pioneer Floating Rate Trust finds support from accumulated volume at $9.63 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0600 between high and low, or 0.625%. For the last week the stock has had daily average volatility of 0.691%
Our recommended stop-loss: $9.09 (-5.69%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (PHD) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Pioneer Floating Rate Trust to open at $9.63, and during the day (based on 14 day Average True Range), to move between $9.58 and $9.70, which gives a possible trading interval of +/-$0.0648 (+/-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 1.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.65 (0.10%) than the support at $9.63 (0.10%), 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 Pioneer Floating Rate Trust stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Pioneer Floating Rate Trust stock to perform well in the short-term period.
Current score: 2.010 Buy Candidate Unchanged
Predicted Opening Price for Pioneer Floating Rate Trust of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$9.63 ( 0.0692%) | $9.64 |
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 | 9.69 | 0.553 % | |
R2 | 9.67 | 0.315 % | ||
R1 | 9.66 | 0.169 % | ||
Current price: | 9.64 | |||
Support | S1 | 9.61 | -0.307 % | |
S2 | 9.60 | -0.454 % | ||
S3 | 9.57 | -0.692 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.69 | 0.519 % | |
R2 | 9.68 | 0.415 % | ||
R1 | 9.65 | 0.104 % | ||
Current price | 9.64 | |||
Support | S1 | 9.63 | -0.104% | |
S2 | 9.60 | -0.415% | ||
S3 | 9.55 | -0.93% |
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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