DoubleLine Opportunistic Credit Fund (DBL)’s Bearish Wedge Down Points to Higher Stock Risks

December 8, 2017 - By Ellis Scott

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.
Commonwealth Equity reported 0.01% in DoubleLine Opportunistic Credit Fund (NYSE:DBL). 43,210 were reported by Bb&T Securities Ltd Liability Com. Ironwood Financial Limited Com owns 500 shares for 0.01% of their portfolio. Manufacturers Life Ins The has invested 0% in DoubleLine Opportunistic Credit Fund (NYSE:DBL). Citigroup accumulated 0% or 3,617 shares. Apriem Advsr holds 1.97% of its portfolio in DoubleLine Opportunistic Credit Fund (NYSE:DBL) for 294,378 shares. Moreover, Botty Limited Co has 0.04% invested in DoubleLine Opportunistic Credit Fund (NYSE:DBL) for 5,450 shares. Brown Advisory Securities Ltd invested 0.06% in DoubleLine Opportunistic Credit Fund (NYSE:DBL). Commercial Bank Of Montreal Can invested in 0% or 64,169 shares. 88,290 are held by Hightower Advisors Limited Liability Corporation. Homrich Berg, a Georgia-based fund reported 13,598 shares. Horizon Kinetics Ltd has 423,428 shares for 0.35% of their portfolio. The New York-based Jefferies Grp Inc Lc has invested 0% in DoubleLine Opportunistic Credit Fund (NYSE:DBL). Envestnet Asset Inc has 0% invested in DoubleLine Opportunistic Credit Fund (NYSE:DBL). Raymond James & Associates holds 0% or 69,184 shares in its portfolio.

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 Marketwatch.com with their article: “Doubleline Opportunistic Credit Fund” published on May 15, 2011, 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 November Distribution” published on October 24, 2017 as well as Prnewswire.com‘s news article titled: “DoubleLine Opportunistic Credit Fund Declares June 2017 Distribution” with publication date: May 26, 2017.

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