PIMCO California Municipal Income Fund Stock Forecast

PIMCO California Municipal Income Fund stock price down 0.423% on Wednesday
(Updated on Apr 24, 2024)

PZC Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 2.32%. 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 California Municipal Income Fund stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $7.44. On a fall, the stock will find some support from the short-term average at $7.03. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for PIMCO California Municipal Income Fund stock

PIMCO California Municipal Income Fund finds support from accumulated volume at $7.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0400 between high and low, or 0.567%. For the last week the stock has had daily average volatility of 1.37%.

PIMCO California Municipal Income Fund is oversold on RSI14 (23). Some stocks 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 (PZC) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect PIMCO California Municipal Income Fund III to open at $7.08, and during the day (based on 14 day Average True Range), to move between $6.95 and $7.19, which gives a possible trading interval of +/-$0.121 (+/-1.71%) up or down from last closing price. If PIMCO California Municipal Income Fund III takes out the full calculated possible swing range there will be an estimated 3.42% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $7.05 (0.28%) than the resistance at $7.13 (0.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is PIMCO California Municipal Income Fund III stock A Buy?

PIMCO California Municipal Income Fund holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.030 Sell Candidate Unchanged

Predicted Opening Price for PIMCO California Municipal Income Fund III of Thursday, April 25, 2024

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