Pimco Municipal Income Fund II Stock Forecast

Evaluation of Pimco Municipal Income Fund II stock downgraded after the last trading session.
(Updated on Apr 18, 2024)

PML Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has fallen 0%. 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 Pimco Municipal Income Fund II 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 $8.36 and $8.43. 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). Pimco Municipal Income Fund II 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 Pimco Municipal Income Fund II stock

Pimco Municipal Income Fund II finds support from accumulated volume at $8.14 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 $0.1000 between high and low, or 1.20%. For the last week the stock has had daily average volatility of 0.88%.

Our recommended stop-loss: $7.87 (-5.30%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 24 days ago.)

Trading Expectations (PML) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Pimco Municipal Income Fund II to open at $8.34, and during the day (based on 14 day Average True Range), to move between $8.23 and $8.39, which gives a possible trading interval of +/-$0.0780 (+/-0.94%) up or down from last closing price. If Pimco Municipal Income Fund II takes out the full calculated possible swing range there will be an estimated 1.88% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $8.41 (1.20%) than the support at $8.14 (2.05%), 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 Pimco Municipal Income Fund II stock A Buy?

Pimco Municipal Income Fund II holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.

Current score: -0.608 Hold/Accumulate Downgraded

Predicted Opening Price for Pimco Municipal Income Fund II of Friday, April 19, 2024

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