Flaherty & Crumrine Preferred Income Stock Forecast

Flaherty & Crumrine Preferred Income stock price ended at $8.02 on Thursday, after losing 0.0012%.
(Updated on Apr 18, 2024)

PFO Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 1.13%. 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 Flaherty & Crumrine Preferred Income 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 $8.06 and $8.27. 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. The stock had a Golden Star Signal on Wednesday, July 26, 2023 in the long-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.

Buy

Special Signal Notification

Golden Star 12 Months

The stock had a Golden Star Signal on Wednesday, July 26, 2023 in the long-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.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Thursday, March 28, 2024 with a target of $8.11. Despite whether the objective of the signal formation has been reached the stock may continue to fall.

Support, Risk & Stop-loss for Flaherty & Crumrine Preferred Income stock

Flaherty & Crumrine Preferred Income finds support from accumulated volume at $7.97 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 $0.0460 between high and low, or 0.575%. For the last week the stock has had daily average volatility of 1.17%

Flaherty & Crumrine Preferred Income is oversold on RSI14 (19). 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 (PFO) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Flaherty & Crumrine Preferred Income Opportunity Fund Inc to open at $8.02, and during the day (based on 14 day Average True Range), to move between $7.95 and $8.09, which gives a possible trading interval of +/-$0.0741 (+/-0.92%) up or down from last closing price. If Flaherty & Crumrine Preferred Income Opportunity Fund Inc takes out the full calculated possible swing range there will be an estimated 1.85% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $7.97 (0.62%) than the resistance at $8.22 (2.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Flaherty & Crumrine Preferred Income Opportunity Fund Inc stock A Buy?

Flaherty & Crumrine Preferred Income holds several negative signals and is within a 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: -1.227 Sell Candidate Unchanged

Predicted Opening Price for Flaherty & Crumrine Preferred Income Opportunity Fund Inc of Friday, April 19, 2024

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