Putnam Esg High Yield Etf ETF Forecast

Evaluation of Putnam Esg High Yield Etf ETF downgraded after the last trading session.
(Updated on Jun 25, 2024)

PHYD Signals & Forecast

The Putnam Esg High Yield 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 $50.68. On a fall, the ETF will find some support from the long-term average at approximately $50.59. 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. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 0.228%. 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 ETF may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Putnam Esg High Yield Etf ETF

Putnam Esg High Yield Etf finds support from accumulated volume at $50.53 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 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 ETF During the last day, the ETF moved $0.0200 between high and low, or 0.0395%. For the last week the ETF has had daily average volatility of 0.167%

Our recommended stop-loss: $47.65 (-5.91%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (PHYD) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Putnam Esg High Yield Etf to open at $50.65, and during the day (based on 14 day Average True Range), to move between $50.50 and $50.78, which gives a possible trading interval of +/-$0.136 (+/-0.27%) up or down from last closing price. If Putnam Esg High Yield Etf takes out the full calculated possible swing range there will be an estimated 0.54% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $50.66 (0.04%) than the support at $50.53 (0.23%), 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 Esg High Yield Etf ETF 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 Putnam Esg High Yield Etf ETF to perform well in the short-term period. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 2.429 Buy Candidate Downgraded

Predicted Opening Price for Putnam Esg High Yield Etf of Wednesday, June 26, 2024

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