PIMCO Municipal Income Fund Stock Forecast
PIMCO Municipal Income Fund stock price ended at $9.26 on Friday, after gaining 0.762%.
(Updated on May 17, 2024)
The PIMCO Municipal Income Fund stock price gained 0.762% on the last trading day (Friday, 17th May 2024), rising from $9.19 to $9.26. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.81% from a day low at $9.19 to a day high of $9.26. The price has risen in 6 of the last 10 days and is up by 2.21% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 35 thousand more shares were traded than the day before. In total, 102 thousand shares were bought and sold for approximately $943.87 thousand.
Given the current short-term trend, the stock is expected to fall -6.31% during the next 3 months and, with a 90% probability hold a price between $8.19 and $8.68 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PMF Signals & Forecast
Mostly positive signals in the chart today. The PIMCO Municipal Income Fund stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $9.16 and $9.06. 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 4.04%. 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). PIMCO Municipal Income Fund has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for PIMCO Municipal Income Fund stock
PIMCO Municipal Income Fund finds support from accumulated volume at $9.21 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 $0.0747 between high and low, or 0.81%. For the last week the stock has had daily average volatility of 0.688%.
Our recommended stop-loss: $8.78 (-5.18%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (PMF) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect PIMCO Municipal Income Fund to open at $9.24, and during the day (based on 14 day Average True Range), to move between $9.18 and $9.34, which gives a possible trading interval of +/-$0.0790 (+/-0.85%) up or down from last closing price. If PIMCO Municipal Income Fund takes out the full calculated possible swing range there will be an estimated 1.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.21 (0.54%) than the resistance at $9.40 (1.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is PIMCO Municipal Income Fund stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 3.472 Buy Candidate Unchanged
Predicted Opening Price for PIMCO Municipal Income Fund of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $9.24 ( 0.235%) | $9.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PMF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.31 | 0.572 % | |
| R2 | 9.28 | 0.263 % | ||
| R1 | 9.27 | 0.0731 % | ||
| Current price: | 9.26 | |||
| Support | S1 | 9.21 | -0.543 % | |
| S2 | 9.19 | -0.734 % | ||
| S3 | 9.16 | -1.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.58 | 3.46 % | |
| R2 | 9.49 | 2.48 % | ||
| R1 | 9.40 | 1.51 % | ||
| Current price | 9.26 | |||
| Support | S1 | 9.21 | -0.540% | |
| S2 | 8.98 | -3.02% | ||
| S3 | 8.90 | -3.89% |
PMF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 10, 2024 | May 10, 2024 | Jun 03, 2024 | $0.0420 | 0.454% |
| 2 | Apr 01, 2024 | Apr 10, 2024 | May 01, 2024 | $0.0420 | 0.470% |
| 3 | Mar 01, 2024 | Mar 08, 2024 | Apr 01, 2024 | $0.0420 | 0.449% |
| 4 | Feb 01, 2024 | Feb 09, 2024 | Mar 01, 2024 | $0.0420 | 0.438% |
| 5 | Jan 02, 2024 | Jan 11, 2024 | Feb 01, 2024 | $0.0420 | 0.432% |
FAQ
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