PEIOX Stock Tickeron detected bearish Mutual Fund Pattern: Triple Tops on June 20, 2024

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Triple Tops

PEIOX - Principal Equity Income R3

Emerged: 06/20/24

Breakout: $39.38

Price: $40.86

Target price: $38.82

A.I.dvisor detected a bearish Triple Tops pattern for PEIOX stock. This pattern was detected on June 20, 2024 . The odds of reaching the target price are 6. The Triple Tops pattern appears when there are three distinct minor Highs (1, 3, 5) at about the same price level. The security is testing the upper resistance level (horizontal line formed by (1, 3, 5). Consider selling the security short or buying a put option at a downward breakout price level. When trading, wait for the confirmation move, which is when the price falls below the breakout level.

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