Abrdn Income Credit Strategies Fund Trust Forecast

Abrdn Income Credit Strategies Fund trust price ended at $24.30 on Friday, after gaining 0.0424%.
(Updated on Jun 28, 2024)

ACP-PA Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 2.66%. 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). Abrdn Income Credit Strategies Fund has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Abrdn Income Credit Strategies Fund trust 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 trust giving a more negative forecast for the stock. On further gains, the trust will meet resistance from the long-term Moving Average at $24.40. On a fall, the trust will find some support from the short-term average at $24.29. 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. The trust had a Golden Star Signal on Friday, January 19, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the trust in question.

Support, Risk & Stop-loss for Abrdn Income Credit Strategies Fund trust

Abrdn Income Credit Strategies Fund finds support from accumulated volume at $24.04 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the trust tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the trust moved $0.230 between high and low, or 0.96%. For the last week the trust has had daily average volatility of 0.538%.

Our recommended stop-loss: $23.03 (-5.22%) (This trust has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (ACP-PA) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Abrdn Income Credit Strategies Fund to open at $24.22, and during the day (based on 14 day Average True Range), to move between $23.81 and $24.79, which gives a possible trading interval of +/-$0.487 (+/-2.00%) up or down from last closing price. If Abrdn Income Credit Strategies Fund takes out the full calculated possible swing range there will be an estimated 4.01% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $24.55 (1.03%) than the support at $24.04 (1.07%), 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 Abrdn Income Credit Strategies Fund trust A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Abrdn Income Credit Strategies Fund trust to perform well in the short-term period.

Current score: 2.721 Buy Candidate Unchanged

Predicted Opening Price for Abrdn Income Credit Strategies Fund of Monday, July 1, 2024

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