Pimco Global Stocksplus & Income Fund Stock Forecast

Weaker technical forecast for Pimco Global Stocksplus & Income Fund as stock downgraded to Sell Candidate.
(Updated on Apr 18, 2024)

PGP Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 0.418%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The Pimco Global Stocksplus & 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 $7.29 and $7.55. 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).

Support, Risk & Stop-loss for Pimco Global Stocksplus & Income Fund stock

Pimco Global Stocksplus & Income Fund finds support from accumulated volume at $7.19 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 $0.170 (2.39%) between high and low. For the last week, the stock has had daily average volatility of 2.01%.

Pimco Global Stocksplus & Income Fund 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 (PGP) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Pimco Global Stocksplus & Income Fund to open at $7.21, and during the day (based on 14 day Average True Range), to move between $7.11 and $7.31, which gives a possible trading interval of +/-$0.103 (+/-1.43%) up or down from last closing price. If Pimco Global Stocksplus & Income Fund takes out the full calculated possible swing range there will be an estimated 2.86% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $7.19 (0.28%) than the resistance at $7.38 (2.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Pimco Global Stocksplus & Income Fund stock A Buy?

Pimco Global Stocksplus & Income Fund 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. 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: -2.383 Sell Candidate Downgraded

Predicted Opening Price for Pimco Global Stocksplus & Income Fund of Friday, April 19, 2024

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