Principal Spectrum Preferred Securities ETF Forecast

Principal Spectrum Preferred Securities ETF downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on Apr 18, 2024)

PREF Signals & Forecast

There are few to no technical positive signals at the moment. The Principal Spectrum Preferred Securities ETF 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 $17.91 and $17.98. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -1.87%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The ETF had a Golden Star Signal on Wednesday, July 12, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for Principal Spectrum Preferred Securities ETF

Principal Spectrum Preferred Securities finds support from accumulated volume at $17.74 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 $0.0500 between high and low, or 0.281%. For the last week the ETF has had daily average volatility of 0.398%

Principal Spectrum Preferred Securities is oversold on RSI14 (19). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

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

For the upcoming trading day on Friday, 19th we expect Principal Spectrum Preferred Securities Active ETF to open at $17.84, and during the day (based on 14 day Average True Range), to move between $17.76 and $17.90, which gives a possible trading interval of +/-$0.0676 (+/-0.38%) up or down from last closing price. If Principal Spectrum Preferred Securities Active ETF takes out the full calculated possible swing range there will be an estimated 0.76% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $17.86 (0.17%) than the support at $17.74 (0.50%), 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 Principal Spectrum Preferred Securities Active ETF ETF A Buy?

Principal Spectrum Preferred Securities holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Sell candidate.

Current score: -1.066 Sell Candidate Downgraded

Predicted Opening Price for Principal Spectrum Preferred Securities Active ETF of Friday, April 19, 2024

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