POWERSHARES TAXABLE MUNICIPAL BOND Stock Forecast
Evaluation of POWERSHARES TAXABLE MUNICIPAL BOND stock downgraded after the last trading session.
(Updated on Apr 17, 2024)
The POWERSHARES TAXABLE MUNICIPAL BOND stock price gained 0.700% on the last trading day (Wednesday, 17th Apr 2024), rising from £500.00 to £503.50. During the last trading day the stock fluctuated 1.65% from a day low at £495.80 to a day high of £504.00. The price has been going up and down for this period, and there has been a -2.71% loss for the last 2 weeks. Volume fell on the last day by -61 thousand shares and in total, 646 thousand shares were bought and sold for approximately £325.02 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £491.30 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 18.60% during the next 3 months and, with a 90% probability hold a price between £582.69 and £655.36 at the end of this 3-month period.
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BAB.L Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The POWERSHARES TAXABLE MUNICIPAL BOND 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 £505.50 and £511.60. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -5.53%. 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).
Support, Risk & Stop-loss for POWERSHARES TAXABLE MUNICIPAL BOND stock
POWERSHARES TAXABLE MUNICIPAL BOND finds support from accumulated volume at £490.20 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £8.20 between high and low, or 1.65%. For the last week the stock has had daily average volatility of 2.35%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BAB.L) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect POWERSHARES TAXABLE MUNICIPAL BOND PORTFOLIO to open at £501.10, and during the day (based on 14 day Average True Range), to move between £490.87 and £516.13, which gives a possible trading interval of +/-£12.63 (+/-2.51%) up or down from last closing price. If POWERSHARES TAXABLE MUNICIPAL BOND PORTFOLIO takes out the full calculated possible swing range there will be an estimated 5.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £509.50 (1.19%) than the support at £490.20 (2.64%), 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 POWERSHARES TAXABLE MUNICIPAL BOND PORTFOLIO stock A Buy?
The POWERSHARES TAXABLE MUNICIPAL BOND stock holds several negative signals and despite the positive trend, we believe POWERSHARES TAXABLE MUNICIPAL BOND will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.913 Sell Candidate Downgraded
Predicted Opening Price for POWERSHARES TAXABLE MUNICIPAL BOND PORTFOLIO of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| £501.10 ( 0.477%) | £503.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BAB.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 509.30 | 1.15 % | |
| R2 | 506.17 | 0.530 % | ||
| R1 | 504.23 | 0.145 % | ||
| Current price: | 503.50 | |||
| Support | S1 | 497.97 | -1.10 % | |
| S2 | 496.03 | -1.48 % | ||
| S3 | 492.90 | -2.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 533.00 | 5.86 % | |
| R2 | 513.50 | 1.99 % | ||
| R1 | 509.50 | 1.19 % | ||
| Current price | 503.50 | |||
| Support | S1 | 490.20 | -2.64% | |
| S2 | 453.00 | -10.03% | ||
| S3 | 443.80 | -11.86% |
BAB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 23, 2023 | Nov 23, 2023 | Nov 23, 2023 | £0 | 0% |
| 2 | Nov 20, 2019 | Dec 05, 2019 | Jan 17, 2020 | £7.20 | 1.16% |
| 3 | May 22, 2019 | Jul 04, 2019 | Aug 09, 2019 | £22.90 | 4.80% |
| 4 | Nov 21, 2018 | Dec 06, 2018 | Jan 16, 2019 | £7.10 | 1.30% |
| 5 | May 23, 2018 | Jun 28, 2018 | Aug 10, 2018 | £22.65 | 3.11% |
FAQ
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