Putnam Municipal Opportunities Trust Forecast and Stock Analysis
Technical PMO stock analysis for Wednesday June 19, 2019.
Putnam Municipal Opportunities Trust gained 0.48% in the last trading day ( Wednesday, 19th Jun 2019 ), rising from $12.61 to $12.67 During day the stock fluctuated 0.65% from a day low at $12.61 to a day high of $12.69. The price has risen in 6 of the last 10 days and is up by 1.36% over the past 2 weeks. Volume fell in the last day by -18 231 shares, and in total, 46 231 shares bought and sold for approximately $585 747.00. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
- 30 day high of the PMO stock price was $12.76 and low was $12.27.
- 90 day high was $12.76 and low was $12.12.
- 52 week high for the Putnam Municipal Opportunities Trust - $12.76 and low - $10.85.
Putnam Municipal Opportunities Trust lies in the upper part of a narrow and weak rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $12.73 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 3.08% during the next 3 months and, with 90% probability hold a price between $12.78 and $13.12 at the end of this period.
Putnam Municipal Opportunities Trust holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $12.66 and $12.44. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Wednesday June 12, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
* 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.
Relative Strength Index (RSI)
The stock holds a RSI14 at 71 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
Putnam Municipal Opportunities Trust finds support from accumulated volume at $12.36.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stoploss: $12.26 (-3.27%) (This stock has low daily movements and this gives low risk. The RSI14 is 71 and this increases the risk substantially. There is a sell signal from pivot top found 5 days ago.)
0.49 %Average volatility
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Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Buy Candidate.
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