Pimco Short-term High Yield Corporate ETF Forecast

Red day on Thursday for Pimco Short-term High Yield Corporate
(Updated on Jun 27, 2024)

STYC.L Signals & Forecast

The Pimco Short-term High Yield Corporate ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $146.32. On a fall, the ETF will find some support from the long-term average at approximately $145.72. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Friday, June 21, 2024, and so far it has fallen -0.654%. 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. The ETF had a Golden Star Signal on Wednesday, November 01, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for Pimco Short-term High Yield Corporate ETF

Pimco Short-term High Yield Corporate finds support from accumulated volume at $144.32 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 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 ETF During the last day, the ETF moved $0 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.308%

Our recommended stop-loss: $140.04 (-4.03%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 19 days ago.)

Trading Expectations (STYC.L) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect Pimco Short-term High Yield Corporate Bond Index Source Ucits Etf Usd Acc to open at $145.93, and during the day (based on 14 day Average True Range), to move between $145.28 and $146.58, which gives a possible trading interval of +/-$0.652 (+/-0.45%) up or down from last closing price. If Pimco Short-term High Yield Corporate Bond Index Source Ucits Etf Usd Acc takes out the full calculated possible swing range there will be an estimated 0.89% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $146.34 (0.28%) than the support at $144.32 (1.10%), 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 Short-term High Yield Corporate Bond Index Source Ucits Etf Usd Acc ETF A Buy?

Pimco Short-term High Yield Corporate 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: 0.908 Hold/Accumulate Unchanged

Predicted Opening Price for Pimco Short-term High Yield Corporate Bond Index Source Ucits Etf Usd Acc of Friday, June 28, 2024

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