Principal Contrarian Value Index ETF Forecast
Principal Contrarian Value Index ETF downgraded to Hold/Accumulate
(Updated on Jun 21, 2024)
The Principal Contrarian Value Index ETF price fell by -0.0276% on the last day (Friday, 21st Jun 2024) from $36.23 to $36.22. During the last trading day the ETF fluctuated 1.05% from a day low at $36.06 to a day high of $36.44. The price has been going up and down for this period, and there has been a 0.98% gain for the last 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -38 thousand shares and in total, 95 thousand shares were bought and sold for approximately $3.45 million.
The ETF lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 3.28% during the next 3 months and, with a 90% probability hold a price between $36.18 and $38.20 at the end of this 3-month period.
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PVAL Signals & Forecast
The Principal Contrarian Value Index ETF 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 $36.09 and $35.94. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, May 21, 2024, and so far it has fallen -1.01%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Principal Contrarian Value Index ETF
Principal Contrarian Value Index finds support from accumulated volume at $36.04 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 $0.380 between high and low, or 1.05%. For the last week the ETF has had daily average volatility of 0.747%.
Our recommended stop-loss: $34.61 (-4.45%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 44 days ago.)
Trading Expectations (PVAL) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Principal Contrarian Value Index ETF to open at $36.24, and during the day (based on 14 day Average True Range), to move between $35.88 and $36.56, which gives a possible trading interval of +/-$0.345 (+/-0.95%) up or down from last closing price. If Principal Contrarian Value Index ETF takes out the full calculated possible swing range there will be an estimated 1.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $36.29 (0.19%) than the support at $36.04 (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 Contrarian Value Index ETF ETF A Buy?
Principal Contrarian Value Index 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: -0.193 Hold/Accumulate Downgraded
Predicted Opening Price for Principal Contrarian Value Index ETF of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $36.24 ( 0.0552%) | $36.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PVAL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 36.62 | 1.10% |
| R2 | 36.47 | 0.704% |
| R1 | 36.39 | 0.456% |
| Price | 36.22 | |
| S1 | 36.09 | -0.346% |
| S2 | 36.01 | -0.593% |
| S3 | 35.86 | -0.99% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 36.42 | 0.552% |
| R2 | 36.30 | 0.221% |
| R1 | 36.29 | 0.193% |
| Price | 36.22 | |
| S1 | 36.04 | -0.497% |
| S2 | 35.12 | -3.04% |
| S3 | 35.10 | -3.09% |
PVAL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 06, 2024 | Mar 06, 2024 | Mar 11, 2024 | $0.111 | 0.325% |
| 2 | Dec 06, 2023 | Dec 06, 2023 | Dec 06, 2023 | $0.212 | 0.710% |
| 3 | Sep 06, 2023 | Sep 07, 2023 | Sep 12, 2023 | $0.111 | 0.374% |
| 4 | Jun 05, 2023 | Jun 06, 2023 | Jun 09, 2023 | $0.0970 | 0.344% |
| 5 | Dec 27, 2022 | Dec 27, 2022 | Dec 27, 2022 | $0.0140 | 0.0519% |
FAQ
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