John Hancock Preferred Income Fund (HPI) Stock Faces Lower Risks Forward After Forming Bullish Wedge Up Chart Pattern

May 17, 2018 - By Robert Crowder

Investors sentiment increased to 1.67 in Q4 2017. Its up 0.25, from 1.42 in 2017Q3. It improved, as 8 investors sold John Hancock Preferred Income Fund shares while 7 reduced holdings. 13 funds opened positions while 12 raised stakes. 1.20 million shares or 9.11% less from 1.32 million shares in 2017Q3 were reported.
Monroe Commercial Bank And Mi has 17,650 shares. Bancorporation Of America De holds 72,178 shares or 0% of its portfolio. Ifc Holding Inc Fl invested in 0.02% or 12,264 shares. Mcrae Mgmt Inc has invested 0.16% of its portfolio in John Hancock Preferred Income Fund (NYSE:HPI). Royal Financial Bank Of Canada reported 0% in John Hancock Preferred Income Fund (NYSE:HPI). Jefferies Ltd Liability Corporation accumulated 10,408 shares. Oakworth Cap stated it has 0% in John Hancock Preferred Income Fund (NYSE:HPI). Oxbow Advsr invested in 0.04% or 11,000 shares. Optimum Investment Advsrs holds 0.08% or 12,300 shares. Winslow Evans Crocker stated it has 600 shares or 0% of all its holdings. Ameriprise Fin Inc has 0% invested in John Hancock Preferred Income Fund (NYSE:HPI). The West Virginia-based City Holding has invested 0.01% in John Hancock Preferred Income Fund (NYSE:HPI). Old Natl Commercial Bank In invested in 0.01% or 9,512 shares. Raymond James Services Advsrs invested 0% in John Hancock Preferred Income Fund (NYSE:HPI). Hightower Advisors Ltd Liability Com has 0% invested in John Hancock Preferred Income Fund (NYSE:HPI).

The stock of John Hancock Preferred Income Fund (HPI) formed an up wedge with $21.70 target or 5.00 % above today’s $20.67 share price. The 5 months wedge indicates low risk for the $537.68 million company. If the $21.70 price target is reached, the company will be worth $26.88M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.24% or $0.05 during the last trading session, reaching $20.67. About 22,161 shares traded. John Hancock Preferred Income Fund (NYSE:HPI) has declined 2.86% since May 17, 2017 and is downtrending. It has underperformed by 14.41% the S&P500.

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