John Hancock Preferred Income Fund III Stock Forecast
John Hancock Preferred Income Fund III stock upgraded to Strong Buy Candidate.
(Updated on Mar 28, 2024)
The John Hancock Preferred Income Fund III stock price gained 1.05% on the last trading day (Thursday, 28th Mar 2024), rising from $15.27 to $15.43. During the last trading day the stock fluctuated 1.94% from a day low at $15.24 to a day high of $15.53. The price has risen in 8 of the last 10 days and is up by 3.42% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 32 thousand more shares were traded than the day before. In total, 136 thousand shares were bought and sold for approximately $2.10 million.
The stock lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.93% during the next 3 months and, with a 90% probability hold a price between $16.13 and $16.67 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
HPS Signals & Forecast
The John Hancock Preferred Income Fund III 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 $15.30 and $15.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 3.42%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for John Hancock Preferred Income Fund III stock
John Hancock Preferred Income Fund III finds support from accumulated volume at $15.27 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 $0.295 between high and low, or 1.94%. For the last week the stock has had daily average volatility of 1.32%.
Our recommended stop-loss: $14.62 (-5.24%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (HPS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect John Hancock Preferred Income Fund III to open at $15.40, and during the day (based on 14 day Average True Range), to move between $15.26 and $15.60, which gives a possible trading interval of +/-$0.167 (+/-1.08%) up or down from last closing price. If John Hancock Preferred Income Fund III takes out the full calculated possible swing range there will be an estimated 2.16% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $15.27, some $0.160 (1.04%) from the current price of $15.43, our system finds the risk reward attractive.
Is John Hancock Preferred Income Fund III stock A Buy?
John Hancock Preferred Income Fund III holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 6.120 Strong Buy Candidate Upgraded
Predicted Opening Price for John Hancock Preferred Income Fund III of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$15.40 ( 0.205%) | $15.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HPS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 15.69 | 1.71 % | |
R2 | 15.58 | 0.98 % | ||
R1 | 15.51 | 0.525 % | ||
Current price: | 15.43 | |||
Support | S1 | 15.29 | -0.94 % | |
S2 | 15.22 | -1.39 % | ||
S3 | 15.10 | -2.12 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 15.43 | |||
Support | S1 | 15.27 | -1.04% | |
S2 | 14.87 | -3.63% | ||
S3 | 14.56 | -5.64% |
HPS Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 01, 2024 | Mar 08, 2024 | Mar 28, 2024 | $0.110 | 0.712% |
2 | Feb 01, 2024 | Feb 09, 2024 | Feb 29, 2024 | $0.110 | 0.724% |
3 | Jan 02, 2024 | Jan 11, 2024 | Jan 31, 2024 | $0.110 | 0.738% |
4 | Dec 01, 2023 | Dec 08, 2023 | Dec 29, 2023 | $0.110 | 0.778% |
5 | Nov 01, 2023 | Nov 10, 2023 | Nov 30, 2023 | $0.110 | 0.83% |
FAQ
Click here for our free guide on how to buy John Hancock Preferred Income Fund III Stock.