Can DoubleLine Opportunistic Credit Fund (DBL)’s Tomorrow be Different? The Stock Formed a Wedge Down Pattern

December 8, 2017 - By Vivian Park

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.
Scotia reported 0.01% in DoubleLine Opportunistic Credit Fund (NYSE:DBL). 279 are owned by Tci Wealth Advisors. Invesco Limited reported 78,345 shares. Botty Lc has 5,450 shares. First Foundation Advsr has 27,078 shares. Stifel Financial Corp stated it has 0% of its portfolio in DoubleLine Opportunistic Credit Fund (NYSE:DBL). The Illinois-based Hightower Advsr Ltd Liability Corp has invested 0.02% in DoubleLine Opportunistic Credit Fund (NYSE:DBL). Whittier Trust Co stated it has 16,049 shares. Royal Bancorp Of Canada holds 0% of its portfolio in DoubleLine Opportunistic Credit Fund (NYSE:DBL) for 25,807 shares. Essex Fincl Ser holds 0.18% or 41,287 shares. 25,917 are owned by Joel Isaacson & Limited Com. Homrich And Berg has invested 0.03% in DoubleLine Opportunistic Credit Fund (NYSE:DBL). Ameriprise Inc invested in 0% or 13,982 shares. Sii Investments Wi holds 0.08% or 50,470 shares. Fifth Third Savings Bank has invested 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 January 2017 Distribution” on January 03, 2017, also Marketwatch.com with their article: “Doubleline Opportunistic Credit Fund” published on May 15, 2011, Prnewswire.com published: “DoubleLine Opportunistic Credit Fund Declares November Distribution” on October 24, 2017. More interesting news about DoubleLine Opportunistic Credit Fund (NYSE:DBL) were released by: Prnewswire.com and their article: “DoubleLine Opportunistic Credit Fund Declares June 2017 Distribution” published on May 26, 2017 as well as Prnewswire.com‘s news article titled: “DoubleLine Opportunistic Credit Fund Declares December Distribution” with publication date: December 01, 2017.

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