John Hancock Pfd Income Fund II Stock Forecast

Green day on Wednesday for John Hancock Pfd Income Fund II
(Updated on Apr 24, 2024)

HPF Signals & Forecast

The John Hancock Pfd Income Fund II 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 $16.41 and $16.33. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 8.69%. Further rise is indicated until a new top pivot has been found. John Hancock Pfd Income Fund II 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Friday, February 16, 2024 in the short-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 stock in question.

Support, Risk & Stop-loss for John Hancock Pfd Income Fund II stock

John Hancock Pfd Income Fund II finds support from accumulated volume at $16.46 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 $0.420 between high and low, or 2.54%. For the last week the stock has had daily average volatility of 1.65%.

Our recommended stop-loss: $16.24 (-3.82%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (HPF) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect John Hancock Pfd Income Fund II to open at $16.78, and during the day (based on 14 day Average True Range), to move between $16.61 and $17.15, which gives a possible trading interval of +/-$0.274 (+/-1.63%) up or down from last closing price. If John Hancock Pfd Income Fund II takes out the full calculated possible swing range there will be an estimated 3.25% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $16.46, some $0.420 (2.49%) from the current price of $16.88, our system finds the risk reward attractive.

Is John Hancock Pfd Income Fund II stock A Buy?

John Hancock Pfd Income Fund II 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 John Hancock Pfd Income Fund II of Thursday, April 25, 2024

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