PIMCO New York Municipal Income Fund III Stock Forecast

Stronger technical forecast for PIMCO New York Municipal Income Fund III stock price after Friday trading.
(Updated on Apr 19, 2024)

PYN Signals & Forecast

There are mixed signals in the stock today. The PIMCO New York Municipal Income Fund III 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 $5.83. On a fall, the stock will find some support from the short-term average at $5.72. 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). PIMCO New York Municipal Income Fund III gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 1.14%. Further rise is indicated until a new top pivot has been found.

Support, Risk & Stop-loss for PIMCO New York Municipal Income Fund III stock

PIMCO New York Municipal Income Fund III finds support from accumulated volume at $5.74 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 $0.0200 between high and low, or 0.348%. For the last week the stock has had daily average volatility of 0.455%.

Our recommended stop-loss: $5.46 (-5.02%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (PYN) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect PIMCO New York Municipal Income Fund III to open at $5.75, and during the day (based on 14 day Average True Range), to move between $5.70 and $5.79, which gives a possible trading interval of +/-$0.0478 (+/-0.83%) up or down from last closing price. If PIMCO New York Municipal Income Fund III takes out the full calculated possible swing range there will be an estimated 1.66% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $5.74 (0.09%) than the resistance at $5.84 (1.65%), 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 New York Municipal Income Fund III stock A Buy?

PIMCO New York Municipal Income Fund III 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.597 Hold/Accumulate Upgraded

Predicted Opening Price for PIMCO New York Municipal Income Fund III of Monday, April 22, 2024

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