Principal Spectrum Preferred Securities ETF Forecast

Weaker technical forecast for Principal Spectrum Preferred Securities as ETF downgraded to Hold/Accumulate.
(Updated on May 01, 2024)

PREF Signals & Forecast

There are mixed signals in the ETF today. 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 $17.93 and $17.99. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 0.589%. 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). 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 $17.92 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 with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.0585 between high and low, or 0.327%. For the last week the ETF has had daily average volatility of 0.294%.

Our recommended stop-loss: $16.87 (-5.89%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (PREF) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Principal Spectrum Preferred Securities Active ETF to open at $17.92, and during the day (based on 14 day Average True Range), to move between $17.86 and $17.99, which gives a possible trading interval of +/-$0.0694 (+/-0.39%) 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 0.77% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $17.92 (0.03%) than the resistance at $17.95 (0.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Principal Spectrum Preferred Securities Active ETF ETF A Buy?

Principal Spectrum Preferred Securities 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. 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 Hold/Accumulate candidate.

Current score: 0.402 Hold/Accumulate Downgraded

Predicted Opening Price for Principal Spectrum Preferred Securities Active ETF of Thursday, May 2, 2024

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