Pimco Corporate & Income Opportunity Stock Forecast
Green day on Wednesday for Pimco Corporate & Income Opportunity
(Updated on Mar 27, 2024)
The Pimco Corporate & Income Opportunity stock price gained 0.135% on the last trading day (Wednesday, 27th Mar 2024), rising from $14.84 to $14.86. It has now gained 10 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 0.370% from a day low at $14.85 to a day high of $14.91. The price has risen in 10 of the last 10 days and is up by 2.77% over the past 2 weeks. Volume fell on the last day by -246 thousand shares and in total, 512 thousand shares were bought and sold for approximately $7.60 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.95% during the next 3 months and, with a 90% probability hold a price between $16.08 and $16.46 at the end of this 3-month period.
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PTY Signals & Forecast
The Pimco Corporate & Income Opportunity stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, 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 $14.71 and $14.33. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, January 17, 2024, and so far it has risen 9.75%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $14.13 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0550 between high and low, or 0.370%. For the last week the stock has had daily average volatility of 0.88%.
Since the Pimco Corporate & Income Opportunity has been rising for 10 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: $14.41 (-3.04%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 49 days ago.)
Trading Expectations (PTY) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Pimco Corporate & Income Opportunity Fund to open at $14.87, and during the day (based on 14 day Average True Range), to move between $14.75 and $14.97, which gives a possible trading interval of +/-$0.111 (+/-0.75%) 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 1.50% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $14.13, some $0.730 (4.91%) from the current price of $14.86, our system finds the risk reward attractive.
Is Pimco Corporate & Income Opportunity Fund stock A Buy?
Pimco Corporate & Income Opportunity holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Pimco Corporate & Income Opportunity Fund of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$14.87 ( 0.0785%) | $14.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PTY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14.93 | 0.449 % | |
R2 | 14.91 | 0.307 % | ||
R1 | 14.89 | 0.220 % | ||
Current price: | 14.86 | |||
Support | S1 | 14.85 | -0.0629 % | |
S2 | 14.84 | -0.150 % | ||
S3 | 14.82 | -0.292 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 14.86 | |||
Support | S1 | 14.13 | -4.91% | |
S2 | 14.09 | -5.18% | ||
S3 | 13.84 | -6.86% |
PTY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 01, 2024 | Mar 08, 2024 | Apr 01, 2024 | $0.119 | 0.799% |
2 | Feb 01, 2024 | Feb 09, 2024 | Mar 01, 2024 | $0.119 | 0.83% |
3 | Jan 11, 2024 | Jan 11, 2024 | Feb 01, 2024 | $0.119 | 0.85% |
4 | Dec 01, 2023 | Dec 08, 2023 | Jan 02, 2024 | $0.119 | 0.89% |
5 | Nov 01, 2023 | Nov 10, 2023 | Dec 01, 2023 | $0.119 | 0.85% |
FAQ
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