PIMCO California Municipal Income Fund Stock Forecast

Evaluation of PIMCO California Municipal Income Fund stock downgraded after the last trading session.
(Updated on Apr 19, 2024)

PCQ Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 0.663%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The PIMCO California Municipal Income Fund 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 $9.32. On a fall, the stock will find some support from the short-term average at $9.10. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for PIMCO California Municipal Income Fund stock

PIMCO California Municipal Income Fund finds support from accumulated volume at $9.09 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.112 between high and low, or 1.23%. For the last week the stock has had daily average volatility of 1.15%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PCQ) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect PIMCO California Municipal Income Fund to open at $9.14, and during the day (based on 14 day Average True Range), to move between $9.01 and $9.21, which gives a possible trading interval of +/-$0.103 (+/-1.13%) up or down from last closing price. If PIMCO California Municipal Income Fund takes out the full calculated possible swing range there will be an estimated 2.27% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $9.12 (0.11%) than the support at $9.09 (0.22%), 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 PIMCO California Municipal Income Fund stock A Buy?

PIMCO California Municipal Income Fund holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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: -1.095 Sell Candidate Downgraded

Predicted Opening Price for PIMCO California Municipal Income Fund of Monday, April 22, 2024

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