PowerShares National AMT-Free MuniBd ETF Forecast
PowerShares National AMT-Free MuniBd ETF upgraded to Hold/Accumulate.
(Updated on Apr 25, 2024)
The PowerShares National AMT-Free MuniBd ETF price fell by -0.213% on the last day (Thursday, 25th Apr 2024) from $23.46 to $23.41. During the last trading day the ETF fluctuated 0.300% from a day low at $23.37 to a day high of $23.44. The price has fallen in 6 of the last 10 days and is down by -0.3% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -30 thousand shares and in total, 395 thousand shares were bought and sold for approximately $9.24 million.
The ETF is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $23.38 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect PowerShares National AMT-Free MuniBd ETF with a 90% probability to be traded between $22.94 and $23.38 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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PZA Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The PowerShares National AMT-Free MuniBd ETF 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 $23.51 and $23.72. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -2.74%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Friday, March 08, 2024 with a target of $23.73. Despite whether the objective of the signal formation has been reached the ETF may continue to fall.
Support, Risk & Stop-loss for PowerShares National AMT-Free MuniBd ETF
There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.0700 between high and low, or 0.300%. For the last week the ETF has had daily average volatility of 0.373%.
Our recommended stop-loss: $22.28 (-4.81%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 33 days ago.)
Trading Expectations (PZA) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect PowerShares National AMT-Free MuniBd ETF to open at $23.41, and during the day (based on 14 day Average True Range), to move between $23.30 and $23.52, which gives a possible trading interval of +/-$0.114 (+/-0.49%) up or down from last closing price. If PowerShares National AMT-Free MuniBd ETF takes out the full calculated possible swing range there will be an estimated 0.97% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $23.75, some $0.340 (1.45%) from the current price of $23.41, our system finds the risk reward not very attractive.
Is PowerShares National AMT-Free MuniBd ETF ETF A Buy?
PowerShares National AMT-Free MuniBd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.798 Hold/Accumulate Upgraded
Predicted Opening Price for PowerShares National AMT-Free MuniBd ETF of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $23.41 ( 0.0142%) | $23.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PZA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.48 | 0.285 % | |
| R2 | 23.45 | 0.171 % | ||
| R1 | 23.43 | 0.1000 % | ||
| Current price: | 23.41 | |||
| Support | S1 | 23.38 | -0.128 % | |
| S2 | 23.36 | -0.199 % | ||
| S3 | 23.34 | -0.313 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.89 | 2.05 % | |
| R2 | 23.87 | 1.96 % | ||
| R1 | 23.75 | 1.45 % | ||
| Current price | 23.41 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
PZA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 05, 2024 | Apr 22, 2024 | Apr 26, 2024 | $0.0632 | 0.270% |
| 2 | Jan 05, 2024 | Mar 18, 2024 | Mar 22, 2024 | $0.0633 | 0.264% |
| 3 | Jan 05, 2024 | Feb 20, 2024 | Feb 23, 2024 | $0.0587 | 0.245% |
| 4 | Jan 05, 2024 | Jan 22, 2024 | Jan 26, 2024 | $0.0618 | 0.260% |
| 5 | Dec 18, 2023 | Dec 18, 2023 | Dec 18, 2023 | $0.0640 | 0.267% |
FAQ
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