Putnam High Income Bond Fund Stock Forecast
Red day on Friday for Putnam High Income Bond Fund stock after losing 0.800%
(Updated on Apr 19, 2024)
The Putnam High Income Bond Fund stock price fell by -0.800% on the last day (Friday, 19th Apr 2024) from $6.25 to $6.20. During the last trading day the stock fluctuated 1.61% from a day low at $6.20 to a day high of $6.30. The price has fallen in 7 of the last 10 days and is down by -4.47% for this period. Volume has increased on the last day by 34 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 167 thousand shares were bought and sold for approximately $1.03 million.
Given the current horizontal trend, you can expect Putnam High Income Bond Fund stock with a 90% probability to be traded between $6.27 and $7.08 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PCF Signals & Forecast
There are few to no technical positive signals at the moment. The Putnam High Income Bond Fund 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 $6.34 and $6.61. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, February 26, 2024, and so far it has fallen -10.92%. 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). Putnam High Income Bond Fund gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Putnam High Income Bond Fund stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.1000 (1.61%) between high and low. For the last week, the stock has had daily average volatility of 1.57%.
Putnam High Income Bond Fund is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PCF) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Putnam High Income Bond Fund to open at $6.23, and during the day (based on 14 day Average True Range), to move between $6.11 and $6.29, which gives a possible trading interval of +/-$0.0932 (+/-1.50%) up or down from last closing price. If Putnam High Income Bond Fund takes out the full calculated possible swing range there will be an estimated 3.01% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $6.49, some $0.290 (4.68%) from the current price of $6.20, our system finds the risk reward not very attractive.
Is Putnam High Income Bond Fund stock A Buy?
Putnam High Income Bond Fund holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.466 Sell Candidate Unchanged
Predicted Opening Price for Putnam High Income Bond Fund of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$6.23 ( 0.538%) | $6.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PCF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.33 | 2.15 % | |
R2 | 6.30 | 1.53 % | ||
R1 | 6.27 | 1.15 % | ||
Current price: | 6.20 | |||
Support | S1 | 6.20 | -0.0785 % | |
S2 | 6.17 | -0.459 % | ||
S3 | 6.13 | -1.08 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.96 | 12.26 % | |
R2 | 6.55 | 5.65 % | ||
R1 | 6.49 | 4.68 % | ||
Current price | 6.20 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
PCF Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 03, 2024 | May 20, 2024 | May 31, 2024 | $0.0622 | 1.00% |
2 | Apr 03, 2024 | Apr 18, 2024 | Apr 30, 2024 | $0.0622 | 1.00% |
3 | Jan 04, 2024 | Mar 19, 2024 | Mar 29, 2024 | $0.0622 | 0.92% |
4 | Jan 04, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.0622 | 0.92% |
5 | Jan 04, 2024 | Feb 16, 2024 | Feb 29, 2024 | $0.0622 | 0.92% |
FAQ
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