Calamos Dynamic Convertible & Income Stock Forecast

Green day on Wednesday for Calamos Dynamic Convertible & Income
(Updated on Apr 24, 2024)

CCD Signals & Forecast

The Calamos Dynamic Convertible & Income stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $21.29 and $21.77. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 5.64%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for Calamos Dynamic Convertible & Income stock

Calamos Dynamic Convertible & Income finds support from accumulated volume at $21.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.255 between high and low, or 1.18%. For the last week the stock has had daily average volatility of 1.38%

Since the Calamos Dynamic Convertible & Income has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $21.09 (-3.68%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (CCD) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Calamos Dynamic Convertible & Income Fund to open at $21.84, and during the day (based on 14 day Average True Range), to move between $21.55 and $22.25, which gives a possible trading interval of +/-$0.347 (+/-1.58%) up or down from last closing price. If Calamos Dynamic Convertible & Income Fund takes out the full calculated possible swing range there will be an estimated 3.17% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $21.80 (0.46%) than the resistance at $22.39 (2.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Calamos Dynamic Convertible & Income Fund stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Calamos Dynamic Convertible & Income stock to perform well in the short-term.

Current score: 1.807 Buy Candidate Unchanged

Predicted Opening Price for Calamos Dynamic Convertible & Income Fund of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.