Calamos Convertible Opportunities and Stock Forecast
Red day on Thursday for Calamos Convertible Opportunities and stock after losing 0.351%
(Updated on Mar 28, 2024)
The Calamos Convertible Opportunities and stock price fell by -0.351% on the last day (Thursday, 28th Mar 2024) from $11.39 to $11.35. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 0.619% from a day low at $11.30 to a day high of $11.37. The price has fallen in 5 of the last 10 days but is still up by 0.8% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -8 thousand shares and in total, 191 thousand shares were bought and sold for approximately $2.17 million.
The stock lies in the lower part of a narrow and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $11.32 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 12.83% during the next 3 months and, with a 90% probability hold a price between $12.77 and $13.12 at the end of this 3-month period.
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CHI Signals & Forecast
The Calamos Convertible Opportunities and stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $11.47. On a fall, the stock will find some support from the long-term average at approximately $11.18. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Friday, March 22, 2024, and so far it has fallen -1.65%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Calamos Convertible Opportunities and stock
Calamos Convertible Opportunities and finds support from accumulated volume at $11.05 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0700 between high and low, or 0.619%. For the last week the stock has had daily average volatility of 0.92%.
Our recommended stop-loss: $10.87 (-4.27%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (CHI) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Calamos Convertible Opportunities and Income Fund to open at $11.34, and during the day (based on 14 day Average True Range), to move between $11.23 and $11.47, which gives a possible trading interval of +/-$0.121 (+/-1.07%) 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 2.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.49 (1.23%) than the support at $11.05 (2.64%), 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: 2.012 Buy Candidate Unchanged
Predicted Opening Price for Calamos Convertible Opportunities and Income Fund of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$11.34 ( 0.0881%) | $11.35 |
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 | 11.41 | 0.529 % | |
R2 | 11.38 | 0.293 % | ||
R1 | 11.37 | 0.147 % | ||
Current price: | 11.35 | |||
Support | S1 | 11.31 | -0.324 % | |
S2 | 11.30 | -0.469 % | ||
S3 | 11.27 | -0.705 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.54 | 1.67 % | |
R2 | 11.51 | 1.41 % | ||
R1 | 11.49 | 1.23 % | ||
Current price | 11.35 | |||
Support | S1 | 11.05 | -2.64% | |
S2 | 10.90 | -3.96% | ||
S3 | 10.28 | -9.43% |
CHI Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 13, 2024 | Mar 13, 2024 | Mar 21, 2024 | $0.0950 | 0.82% |
2 | Feb 01, 2024 | Feb 09, 2024 | Feb 20, 2024 | $0.0950 | 0.86% |
3 | Dec 18, 2023 | Dec 28, 2023 | Jan 11, 2024 | $0.0950 | 0.91% |
4 | Dec 01, 2023 | Dec 11, 2023 | Dec 18, 2023 | $0.0950 | 0.92% |
5 | Nov 01, 2023 | Nov 13, 2023 | Nov 20, 2023 | $0.0950 | 0.92% |
FAQ
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