Prudential Global Short Duration High Stock Forecast

Green day on Tuesday for Prudential Global Short Duration High stock after gaining 1.23%
(Updated on Apr 23, 2024)

GHY Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.23%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Prudential Global Short Duration High 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 $11.63. On a fall, the stock will find some support from the short-term average at $11.28. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Prudential Global Short Duration High stock

Prudential Global Short Duration High finds support from accumulated volume at $11.46 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 $0.130 (1.14%) between high and low. For the last week, the stock has had daily average volatility of 0.82%.

Our recommended stop-loss: $10.91 (-5.21%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (GHY) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect Prudential Global Short Duration High Yield Fund Inc to open at $11.48, and during the day (based on 14 day Average True Range), to move between $11.40 and $11.62, which gives a possible trading interval of +/-$0.111 (+/-0.96%) up or down from last closing price. If Prudential Global Short Duration High Yield Fund Inc takes out the full calculated possible swing range there will be an estimated 1.92% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $11.55 (0.35%) than the support at $11.46 (0.43%), 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 Prudential Global Short Duration High Yield Fund Inc stock A Buy?

Prudential Global Short Duration High 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: 0.220 Hold/Accumulate Unchanged

Predicted Opening Price for Prudential Global Short Duration High Yield Fund Inc of Wednesday, April 24, 2024

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