PIMCO California Municipal Income Fund Stock Forecast

Stronger technical forecast for PIMCO California Municipal Income Fund stock price after Friday trading.
(Updated on Jun 28, 2024)

PZC.L Signals & Forecast

There are few to no technical positive signals at the moment. The PIMCO California Municipal Income Fund stock 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 £101.17 and £107.03. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -15.70%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

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

PIMCO California Municipal Income Fund finds support from accumulated volume at £94.50 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £3.40 between high and low, or 3.46%. For the last week, the stock has had daily average volatility of 3.31%.

PIMCO California Municipal Income Fund is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: £93.25 (-5.62%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 19 which reduces the risk some. There is a sell signal from a pivot top found 49 days ago.)

Trading Expectations (PZC.L) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect PIMCO California Municipal Income Fund III to open at £99.53, and during the day (based on 14 day Average True Range), to move between £94.96 and £102.64, which gives a possible trading interval of +/-£3.84 (+/-3.89%) 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 7.78% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £100.80 (2.02%) than the support at £94.50 (4.35%), 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 California Municipal Income Fund III stock A Buy?

PIMCO California Municipal Income Fund holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for PIMCO California Municipal Income Fund III of Monday, July 1, 2024

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