PIMCO California Municipal Income Fund Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Evaluation of PIMCO California Municipal Income Fund stock downgraded after the last trading session.
(Updated on Apr 25, 2024)
The PIMCO California Municipal Income Fund stock price fell by -0.98% on the last day (Thursday, 25th Apr 2024) from $9.14 to $9.05. During the last trading day the stock fluctuated 1.00% from a day low at $9.04 to a day high of $9.13. The price has fallen in 5 of the last 10 days and is down by -0.44% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 thousand shares and in total, 23 thousand shares were bought and sold for approximately $207.60 thousand.
The stock lies in the lower of a narrow and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $9.00 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -4.22% during the next 3 months and, with a 90% probability hold a price between $8.62 and $8.91 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PCQ Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has fallen 0%. 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 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 $9.13 and $9.27. A break-up above any of these levels will issue buy signals. 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
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.
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 $0.0900 between high and low, or 1.00%. For the last week the stock has had daily average volatility of 1.04%
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 Friday 26th
For the upcoming trading day on Friday, 26th we expect PIMCO California Municipal Income Fund to open at $9.07, and during the day (based on 14 day Average True Range), to move between $8.95 and $9.15, which gives a possible trading interval of +/-$0.100 (+/-1.11%) 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 2.22% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $9.33, some $0.280 (3.09%) from the current price of $9.05, our system finds the risk reward not very attractive.
Is PIMCO California Municipal Income Fund stock A Buy?
PIMCO California Municipal Income Fund holds several negative signals and is within a narrow 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. 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: -1.096 Sell Candidate Downgraded
Predicted Opening Price for PIMCO California Municipal Income Fund of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $9.07 ( 0.258%) | $9.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PCQ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.16 | 1.25 % | |
| R2 | 9.13 | 0.87 % | ||
| R1 | 9.11 | 0.638 % | ||
| Current price: | 9.05 | |||
| Support | S1 | 9.04 | -0.122 % | |
| S2 | 9.02 | -0.357 % | ||
| S3 | 8.98 | -0.737 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.56 | 5.64 % | |
| R2 | 9.54 | 5.41 % | ||
| R1 | 9.33 | 3.09 % | ||
| Current price | 9.05 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
PCQ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 10, 2024 | May 01, 2024 | $0.0360 | 0.398% |
| 2 | Mar 08, 2024 | Mar 08, 2024 | Apr 01, 2024 | $0.0360 | 0.388% |
| 3 | Feb 01, 2024 | Feb 09, 2024 | Mar 01, 2024 | $0.0360 | 0.375% |
| 4 | Jan 11, 2024 | Jan 11, 2024 | Feb 01, 2024 | $0.0360 | 0.377% |
| 5 | Dec 01, 2023 | Dec 08, 2023 | Jan 02, 2024 | $0.0360 | 0.385% |
FAQ
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