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DoubleLine Opportunistic Credit Fund (DBL) Stock Formed Wedge Down. What To Expect?

December 8, 2017 - By Dolores Ford

Investors sentiment increased to 1.14 in 2017 Q2. Its up 0.06, from 1.08 in 2017Q1. It is positive, 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.
Raymond James Fincl Service Advisors owns 8,974 shares or 0% of their US portfolio. Northwestern Mutual Wealth Mgmt holds 0% or 1,038 shares. Da Davidson And Communications, a Montana-based fund reported 1,059 shares. Private Advisor Grp Ltd Liability invested in 8,724 shares or 0.01% of the stock. Carroll Fincl Associate Inc has 218 shares. Planning Corporation has invested 0.06% in DoubleLine Opportunistic Credit Fund (NYSE:DBL). Envestnet Asset, Illinois-based fund reported 17,995 shares. First Foundation Advisors invested in 27,078 shares or 0.04% of the stock. Jnba Fincl Advsrs holds 0.02% or 3,058 shares. Ameriprise Fincl reported 13,982 shares stake. Hightower Advsr Ltd Llc stated it has 88,290 shares or 0.02% of all its holdings. Citigroup holds 3,617 shares or 0% of its portfolio. Morgan Stanley invested in 514,855 shares. Sigma Planning Corporation has 0.07% invested in DoubleLine Opportunistic Credit Fund (NYSE:DBL) for 28,359 shares. Lpl Ltd Liability Corp holds 0% in DoubleLine Opportunistic Credit Fund (NYSE:DBL) or 32,545 shares.

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 June 2017 Distribution” on May 26, 2017, also Prnewswire.com with their article: “DoubleLine Opportunistic Credit Fund Declares January 2017 Distribution” published on January 03, 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 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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