Time to Sell DoubleLine Opportunistic Credit Fund (DBL) After The Completion of This Wedge Down Chart Pattern?

December 8, 2017 - By Richard Conner

Investors sentiment increased to 1.14 in Q2 2017. Its up 0.06, from 1.08 in 2017Q1. It increased, as 3 investors sold DoubleLine Opportunistic Credit Fund shares while 18 reduced holdings. 6 funds opened positions while 18 raised stakes. 2.83 million shares or 7.46% less from 3.05 million shares in 2017Q1 were reported.
The Montana-based Da Davidson & has invested 0% in DoubleLine Opportunistic Credit Fund (NYSE:DBL). Commonwealth Equity Svcs accumulated 35,679 shares. Manufacturers Life The accumulated 2,912 shares or 0% of the stock. Focused Wealth Mgmt has 0.09% invested in DoubleLine Opportunistic Credit Fund (NYSE:DBL). Partnervest Advisory Serv stated it has 0.19% of its portfolio in DoubleLine Opportunistic Credit Fund (NYSE:DBL). Joel Isaacson & Limited Liability has invested 0.12% in DoubleLine Opportunistic Credit Fund (NYSE:DBL). Cambridge Inv Research Advisors stated it has 59,663 shares. 218 were accumulated by Carroll Financial Associates. Invesco Limited holds 0% in DoubleLine Opportunistic Credit Fund (NYSE:DBL) or 78,345 shares. Guggenheim Limited Company has invested 0% of its portfolio in DoubleLine Opportunistic Credit Fund (NYSE:DBL). Scotia Inc holds 0.01% or 13,349 shares in its portfolio. Raymond James Services has 0% invested in DoubleLine Opportunistic Credit Fund (NYSE:DBL). Fincl Bank Of Montreal Can stated it has 0% of its portfolio in DoubleLine Opportunistic Credit Fund (NYSE:DBL). Botty Investors Ltd Limited Liability Company reported 0.04% in DoubleLine Opportunistic Credit Fund (NYSE:DBL). Stifel stated it has 0% in DoubleLine Opportunistic Credit Fund (NYSE:DBL).

The stock of DoubleLine Opportunistic Credit Fund (DBL) formed a down wedge with $20.69 target or 8.00 % below today’s $22.49 share price. The 5 months wedge indicates high risk for the $ company. If the $20.69 price target is reached, the company will be worth $ less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

It closed at $22.49 lastly. It is up 4.58% since December 8, 2016 and is downtrending. It has underperformed by 21.28% the S&P500.

More notable recent DoubleLine Opportunistic Credit Fund (NYSE:DBL) news were published by: Prnewswire.com which released: “DoubleLine Opportunistic Credit Fund Declares December Distribution” on December 01, 2017, also Prnewswire.com with their article: “DoubleLine Opportunistic Credit Fund Declares June 2017 Distribution” published on May 26, 2017, Seekingalpha.com published: “Gundlach: So Far, So Good” on December 05, 2017. More interesting news about DoubleLine Opportunistic Credit Fund (NYSE:DBL) were released by: Prnewswire.com and their article: “DoubleLine Opportunistic Credit Fund Declares January 2017 Distribution” published on January 03, 2017 as well as Marketwatch.com‘s news article titled: “Doubleline Opportunistic Credit Fund” with publication date: May 15, 2011.

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