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- 5/3/2024 -
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PIMCO Active Bond Exchange-Traded Fund (BOND) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week after 4 consecutive negative weeks for the PIMCO Active Bond Exchange-Traded Fund (BOND). During the week, the BOND gained 0.90 points, or 1.01%, and closed at 90.02 on Friday, May 3, 2024. It was the best weekly gain since January 12, 2024. Weekly volume was 18% above average.
 Long-term trend: [See BOND long-term trend chart]
A long-term uptrend had started on October 23, 2023 at 85.10 and reached 93.18 on December 27, 2023. BOND gained -8.08 points, or -9.49%, in 9 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Medium-term trend: [See BOND medium-term trend chart]
A medium-term downtrend had started on December 27, 2023 at 93.18 and reached 88.88 on April 25, 2024. BOND lost 4.30 points, or 4.61%, in 17 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 88.47 and resistance is at 91.13. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See BOND weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is below its signal line since March 28, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See BOND short-term trend chart]
A short-term downtrend had started on March 11, 2024 at 91.98 and reached 88.88 on April 25, 2024. BOND lost 3.10 points, or 3.37%, in 45 days. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 88.46 and resistance is at 91.85. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See BOND daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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