PIMCO California Municipal Income Fund Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Wednesday for PIMCO California Municipal Income Fund stock after losing 0%
(Updated on May 08, 2024)
No changes to the price of PIMCO California Municipal Income Fund stock on the last trading day (Wednesday, 8th May 2024). During the last trading day the stock fluctuated 0% from a day low at £105.20 to a day high of £105.20. The price has risen in 6 of the last 10 days and is up by 11.21% over the past 2 weeks.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is £105.14, a level that may pose a second chance to hit a runner. According to fan-theory £128.30 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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PZC.L Signals & Forecast
The PIMCO California Municipal Income Fund stock 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 £104.03 and £92.29. 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 07, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Friday, March 22, 2024 with a target of £89.50. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for PIMCO California Municipal Income Fund stock
PIMCO California Municipal Income Fund finds support from accumulated volume at £101.80 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved £0 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.45%
The PIMCO California Municipal Income Fund stock is extremely overbought on RSI14 (91). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: £101.85 (-3.18%) (This stock has low daily movements and this gives low risk. The RSI14 is 91 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (PZC.L) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect PIMCO California Municipal Income Fund III to open at £105.20, and during the day (based on 14 day Average True Range), to move between £101.83 and £108.57, which gives a possible trading interval of +/-£3.37 (+/-3.20%) 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 6.40% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £101.80, some £3.40 (3.23%) from the current price of £105.20, our system finds the risk reward attractive.
Is PIMCO California Municipal Income Fund III stock A Buy?
PIMCO California Municipal Income Fund 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| £105.20 ( 0%) | £105.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PZC.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 105.20 | . | |
| R2 | 105.20 | . | ||
| R1 | 105.20 | . | ||
| Current price: | 105.20 | |||
| Support | S1 | 105.20 | . | |
| S2 | 105.20 | . | ||
| S3 | 105.20 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 105.20 | |||
| Support | S1 | 101.80 | -3.23% | |
| S2 | 100.00 | -4.94% | ||
| S3 | 97.50 | -7.32% |
PZC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Mar 07, 2024 | Apr 04, 2024 | £1.50 | 1.70% |
| 2 | Nov 02, 2023 | Nov 02, 2023 | Nov 02, 2023 | £3.73 | 2.80% |
| 3 | Feb 08, 2023 | Mar 09, 2023 | Apr 06, 2023 | £2.67 | 1.43% |
| 4 | Sep 22, 2022 | Oct 20, 2022 | Nov 30, 2022 | £3.73 | 1.80% |
| 5 | Feb 09, 2022 | Mar 10, 2022 | Apr 07, 2022 | £2.67 | 1.34% |
FAQ
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