Pimco Corporate & Income Opportunity Stock Forecast
Pimco Corporate & Income Opportunity stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Pimco Corporate & Income Opportunity stock price gained 0.557% on the last trading day (Tuesday, 2nd Jul 2024), rising from $14.35 to $14.43. It has now gained 8 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 0.348% from a day low at $14.38 to a day high of $14.43. The price has risen in 9 of the last 10 days and is up by 1.55% over the past 2 weeks. Volume fell on the last day by -174 thousand shares and in total, 355 thousand shares were bought and sold for approximately $5.12 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $14.62 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Pimco Corporate & Income Opportunity stock with a 90% probability to be traded between $13.58 and $14.67 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 stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PTY Signals & Forecast
The Pimco Corporate & Income Opportunity stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $14.30 and $14.32. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, June 10, 2024, and so far it has fallen -1.23%. 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). The stock had a Golden Star Signal on Wednesday, June 26, 2024 in the short-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 stock in question.
Golden Star
The stock had a Golden Star Signal on Wednesday, June 26, 2024 in the short-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 stock in question.
Support, Risk & Stop-loss for Pimco Corporate & Income Opportunity stock
Pimco Corporate & Income Opportunity finds support from accumulated volume at $14.30 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 $0.0500 between high and low, or 0.348%. For the last week the stock has had daily average volatility of 0.429%.
Since the Pimco Corporate & Income Opportunity has been rising for 8 days in a row, the risk over the next couple of days has increased.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PTY) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Pimco Corporate & Income Opportunity Fund to open at $14.41, and during the day (based on 14 day Average True Range), to move between $14.32 and $14.54, which gives a possible trading interval of +/-$0.108 (+/-0.75%) up or down from last closing price. If Pimco Corporate & Income Opportunity Fund takes out the full calculated possible swing range there will be an estimated 1.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $14.46 (0.21%) than the support at $14.30 (0.90%), 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 Corporate & Income Opportunity Fund stock A Buy?
Pimco Corporate & Income Opportunity holds several negative signals and is within a 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 stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.644 Sell Candidate Downgraded
Predicted Opening Price for Pimco Corporate & Income Opportunity Fund of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$14.41 ( 0.116%) | $14.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PTY
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 14.46 | 0.231% |
R2 | 14.44 | 0.0986% |
R1 | 14.43 | 0.0169% |
Price | 14.43 | |
S1 | 14.39 | -0.248% |
S2 | 14.38 | -0.330% |
S3 | 14.36 | -0.462% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 15.05 | 4.30% |
R2 | 14.95 | 3.60% |
R1 | 14.46 | 0.208% |
Price | 14.43 | |
S1 | 14.30 | -0.90% |
S2 | 14.21 | -1.52% |
S3 | 13.49 | -6.51% |
PTY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 10, 2024 | May 10, 2024 | Jun 03, 2024 | $0.119 | 0.82% |
2 | Apr 01, 2024 | Apr 10, 2024 | May 01, 2024 | $0.119 | 0.83% |
3 | Mar 01, 2024 | Mar 08, 2024 | Apr 01, 2024 | $0.119 | 0.797% |
4 | Feb 01, 2024 | Feb 09, 2024 | Mar 01, 2024 | $0.119 | 0.83% |
5 | Jan 11, 2024 | Jan 11, 2024 | Feb 01, 2024 | $0.119 | 0.85% |
FAQ
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