PIMCO California Municipal Income Fund Stock Forecast

PIMCO California Municipal Income Fund stock upgraded from Sell Candidate to Buy Candidate after Friday trading session.
(Updated on May 03, 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 4.20%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). PIMCO California Municipal Income Fund has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 $7.32. On a fall, the stock will find some support from the short-term average at $7.10. 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.

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

PIMCO California Municipal Income Fund finds support from accumulated volume at $7.13 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.0544 (0.761%) between high and low. For the last week, the stock has had daily average volatility of 0.98%.

Our recommended stop-loss: $6.84 (-5.00%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 14 days ago.)

Trading Expectations (PZC) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect PIMCO California Municipal Income Fund III to open at $7.18, and during the day (based on 14 day Average True Range), to move between $7.10 and $7.30, which gives a possible trading interval of +/-$0.0996 (+/-1.38%) 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 2.77% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $7.13 (0.97%) than the resistance at $7.66 (6.39%), 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?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.051 Buy Candidate Upgraded

Predicted Opening Price for PIMCO California Municipal Income Fund III of Monday, May 6, 2024

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