Some Traders Are Very Bearish on DoubleLine Opportunistic Credit Fund (DBL) After Forming Wedge Down Chart Pattern

December 8, 2017 - By Henry Gaston

Investors sentiment increased to 1.14 in Q2 2017. Its up 0.06, from 1.08 in 2017Q1. It improved, 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.
Joel Isaacson & Co Limited Liability Company reported 25,917 shares. Wells Fargo Mn holds 0% or 66,684 shares in its portfolio. Bb&T Securities Limited Liability Company stated it has 0.02% in DoubleLine Opportunistic Credit Fund (NYSE:DBL). Ironwood Lc has 0.01% invested in DoubleLine Opportunistic Credit Fund (NYSE:DBL) for 500 shares. National Planning Corporation has 0.06% invested in DoubleLine Opportunistic Credit Fund (NYSE:DBL). Carroll Associate Inc reported 218 shares. Cetera Advisor Limited Com holds 0.09% or 76,003 shares. Envestnet Asset Inc accumulated 17,995 shares or 0% of the stock. Guggenheim Cap Ltd reported 12,991 shares or 0% of all its holdings. Stifel Fincl owns 12,065 shares or 0% of their US portfolio. Winslow Evans And Crocker Inc owns 100 shares. 32,545 were accumulated by Lpl Llc. Morgan Stanley stated it has 0% in DoubleLine Opportunistic Credit Fund (NYSE:DBL). Botty Ltd holds 0.04% or 5,450 shares. 294,378 were accumulated by Apriem Advsr.

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: Seekingalpha.com which released: “Gundlach: So Far, So Good” on December 05, 2017, also Prnewswire.com with their article: “DoubleLine Opportunistic Credit Fund Declares November Distribution” published on October 24, 2017, Prnewswire.com published: “DoubleLine Opportunistic Credit Fund Declares January 2017 Distribution” on January 03, 2017. More interesting news about DoubleLine Opportunistic Credit Fund (NYSE:DBL) were released by: Prnewswire.com and their article: “DoubleLine Opportunistic Credit Fund Declares December Distribution” published on December 01, 2017 as well as Marketwatch.com‘s news article titled: “Doubleline Opportunistic Credit Fund” with publication date: May 15, 2011.

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