Picton Mahoney Tactical Income Fund Trust Forecast
Red day on Tuesday for Picton Mahoney Tactical Income Fund
(Updated on Jun 25, 2024)
No changes to the price of Picton Mahoney Tactical Income Fund trust on the last trading day (Tuesday, 25th Jun 2024). During the last trading day the trust fluctuated 0% from a day low at $7.00 to a day high of $7.00. The price has been going up and down for this period, and there has been a 0.29% gain for the last 2 weeks.
The trust is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $6.98 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Picton Mahoney Tactical Income Fund trust with a 90% probability to be traded between $6.95 and $7.08 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 trusts seldom manage to go directly from the bottom of a trend up to the top. Trusts turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PMB-UN.TO Signals & Forecast
There are mixed signals in the trust today. The Picton Mahoney Tactical Income Fund trust 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 $7.00 and $7.02. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has fallen 0%. 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).
Support, Risk & Stop-loss for Picton Mahoney Tactical Income Fund trust
Picton Mahoney Tactical Income Fund finds support from accumulated volume at $6.98 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the trust 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 trust During the last day, the trust moved $0 between high and low, or 0%. For the last week the trust has had daily average volatility of 0%
Our recommended stop-loss: $6.58 (-5.96%) (This trust has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (PMB-UN.TO) For The Upcoming Trading Day Of Wednesday 26th
Since the stock is closer to the resistance from accumulated volume at $7.02 (0.29%) than the support at $6.98 (0.29%), 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 Picton Mahoney Tactical Income Fund trust A Buy?
Picton Mahoney Tactical Income Fund 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Picton Mahoney Tactical Income Fund of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $7.00 ( 0%) | $7.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PMB-UN.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.00 | - |
| R2 | 7.00 | - |
| R1 | 7.00 | - |
| Price | 7.00 | |
| S1 | 7.00 | - |
| S2 | 7.00 | - |
| S3 | 7.00 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.14 | 2.00% |
| R2 | 7.08 | 1.14% |
| R1 | 7.02 | 0.286% |
| Price | 7.00 | |
| S1 | 6.98 | -0.286% |
| S2 | 6.97 | -0.429% |
| S3 | 0 | - |
FAQ
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