Calamos Convertible Opportunities and Stock Forecast
Calamos Convertible Opportunities and stock price up 1.41% on Friday
(Updated on Apr 19, 2024)
The Calamos Convertible Opportunities and stock price gained 1.41% on the last trading day (Friday, 19th Apr 2024), rising from $10.66 to $10.81. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.00% from a day low at $10.69 to a day high of $10.90. The price has been going up and down for this period, and there has been a -3.14% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 196 thousand more shares were traded than the day before. In total, 304 thousand shares were bought and sold for approximately $3.28 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.45% during the next 3 months and, with a 90% probability hold a price between $10.93 and $12.06 at the end of this 3-month period.
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CHI Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.46%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Calamos Convertible Opportunities and stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $11.16. On a fall, the stock will find some support from the short-term average at $10.75. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Calamos Convertible Opportunities and stock
Calamos Convertible Opportunities and finds support from accumulated volume at $10.57 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.213 between high and low, or 2.00%. For the last week, the stock has had daily average volatility of 1.68%.
Our recommended stop-loss: $10.23 (-5.40%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (CHI) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Calamos Convertible Opportunities and Income Fund to open at $10.80, and during the day (based on 14 day Average True Range), to move between $10.64 and $10.98, which gives a possible trading interval of +/-$0.175 (+/-1.62%) up or down from last closing price. If Calamos Convertible Opportunities and Income Fund takes out the full calculated possible swing range there will be an estimated 3.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.05 (2.22%) than the support at $10.57 (2.22%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Calamos Convertible Opportunities and 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 Convertible Opportunities and stock to perform well in the short-term.
Current score: 2.010 Buy Candidate Unchanged
Predicted Opening Price for Calamos Convertible Opportunities and Income Fund of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $10.80 ( 0.103%) | $10.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.01 | 1.87 % | |
| R2 | 10.93 | 1.12 % | ||
| R1 | 10.88 | 0.651 % | ||
| Current price: | 10.81 | |||
| Support | S1 | 10.72 | -0.86 % | |
| S2 | 10.67 | -1.32 % | ||
| S3 | 10.59 | -2.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.54 | 6.75 % | |
| R2 | 11.07 | 2.41 % | ||
| R1 | 11.05 | 2.22 % | ||
| Current price | 10.81 | |||
| Support | S1 | 10.57 | -2.22% | |
| S2 | 10.56 | -2.31% | ||
| S3 | 10.54 | -2.50% |
CHI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 11, 2024 | Apr 19, 2024 | $0.0950 | 0.88% |
| 2 | Mar 13, 2024 | Mar 13, 2024 | Mar 21, 2024 | $0.0950 | 0.82% |
| 3 | Feb 01, 2024 | Feb 09, 2024 | Feb 20, 2024 | $0.0950 | 0.86% |
| 4 | Dec 18, 2023 | Dec 28, 2023 | Jan 11, 2024 | $0.0950 | 0.91% |
| 5 | Dec 01, 2023 | Dec 11, 2023 | Dec 18, 2023 | $0.0950 | 0.92% |
FAQ
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