Virtus Allianzgi Convertible & Income Stock Forecast

Virtus Allianzgi Convertible & Income stock price down 0.392% on Monday
(Updated on Apr 29, 2024)

CBH Signals & Forecast

The Virtus Allianzgi Convertible & Income stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $8.88 and $8.81. A breakdown below any of these levels will issue sell signals. 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, April 26, 2024, and so far it has fallen -0.392%. Further fall is indicated until a new bottom pivot has been found. Virtus Allianzgi Convertible & Income gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The stock had a Golden Star Signal on Friday, April 12, 2024 in the short-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 stock in question.

Support, Risk & Stop-loss for Virtus Allianzgi Convertible & Income stock

Virtus Allianzgi Convertible & Income finds support from accumulated volume at $8.80 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.120 between high and low, or 1.35%. For the last week the stock has had daily average volatility of 0.81%.

Our recommended stop-loss: $8.64 (-2.87%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (CBH) For The Upcoming Trading Day Of Tuesday 30th

For the upcoming trading day on Tuesday, 30th we expect Virtus Allianzgi Convertible & Income 2024 Target Term Fund to open at $8.92, and during the day (based on 14 day Average True Range), to move between $8.83 and $8.96, which gives a possible trading interval of +/-$0.0659 (+/-0.74%) up or down from last closing price. If Virtus Allianzgi Convertible & Income 2024 Target Term Fund takes out the full calculated possible swing range there will be an estimated 1.48% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $8.90 (0.06%) than the support at $8.80 (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 Virtus Allianzgi Convertible & Income 2024 Target Term Fund stock 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 Virtus Allianzgi Convertible & Income stock to perform well in the short-term period.

Current score: 1.889 Buy Candidate Unchanged

Predicted Opening Price for Virtus Allianzgi Convertible & Income 2024 Target Term Fund of Tuesday, April 30, 2024

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