Pimco Corporate & Income Opportunity Stock Forecast

Pimco Corporate & Income Opportunity stock upgraded to Buy Candidate.
(Updated on Apr 23, 2024)

PTY Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 3.34%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Pimco Corporate & Income Opportunity 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 $14.46. On a fall, the stock will find some support from the short-term average at $13.69. 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).

Support, Risk & Stop-loss for Pimco Corporate & Income Opportunity stock

Pimco Corporate & Income Opportunity finds support from accumulated volume at $13.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.180 between high and low, or 1.30%. For the last week, the stock has had daily average volatility of 0.797%.

Since the Pimco Corporate & Income Opportunity has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $13.17 (-5.55%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (PTY) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect Pimco Corporate & Income Opportunity Fund to open at $13.91, and during the day (based on 14 day Average True Range), to move between $13.74 and $14.14, which gives a possible trading interval of +/-$0.199 (+/-1.43%) up or down from last closing price. If Pimco Corporate & Income Opportunity 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 $13.80 (1.00%) than the resistance at $14.13 (1.36%), 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 Corporate & Income Opportunity Fund stock A Buy?

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 Pimco Corporate & Income Opportunity stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 1.471 Buy Candidate Upgraded

Predicted Opening Price for Pimco Corporate & Income Opportunity Fund of Wednesday, April 24, 2024

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