Calamos Convertible Opportunities and Stock Forecast
Calamos Convertible Opportunities and stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Jul 02, 2024)
The Calamos Convertible Opportunities and stock price gained 0.94% on the last trading day (Tuesday, 2nd Jul 2024), rising from $11.66 to $11.77. It has now gained 4 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 1.37% from a day low at $11.66 to a day high of $11.82. The price has risen in 7 of the last 10 days and is up by 1.38% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 92 thousand more shares were traded than the day before. In total, 193 thousand shares were bought and sold for approximately $2.28 million.
The stock lies in the middle of a 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 7.79% during the next 3 months and, with a 90% probability hold a price between $12.17 and $12.99 at the end of this 3-month period.
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CHI Signals & Forecast
The Calamos Convertible Opportunities and 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 $11.65 and $11.48. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -0.84%. Further fall is indicated until a new bottom pivot has been found. 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 $11.55 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 $0.160 between high and low, or 1.37%. For the last week the stock has had daily average volatility of 0.90%.
Our recommended stop-loss: $11.24 (-4.48%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 53 days ago.)
Trading Expectations (CHI) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Calamos Convertible Opportunities and Income Fund to open at $11.75, and during the day (based on 14 day Average True Range), to move between $11.63 and $11.91, which gives a possible trading interval of +/-$0.144 (+/-1.22%) 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 2.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.84 (0.59%) than the support at $11.55 (1.87%), 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.629 Buy Candidate Upgraded
Predicted Opening Price for Calamos Convertible Opportunities and Income Fund of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$11.75 ( 0.170%) | $11.77 |
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 | |
---|---|---|
R3 | 11.91 | 1.19% |
R2 | 11.85 | 0.670% |
R1 | 11.81 | 0.349% |
Price | 11.77 | |
S1 | 11.69 | -0.689% |
S2 | 11.65 | -1.01% |
S3 | 11.59 | -1.53% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 11.87 | 0.85% |
R1 | 11.84 | 0.595% |
Price | 11.77 | |
S1 | 11.55 | -1.87% |
S2 | 11.30 | -3.99% |
S3 | 11.20 | -4.84% |
CHI Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 01, 2024 | May 13, 2024 | May 21, 2024 | $0.0950 | 0.82% |
2 | Apr 01, 2024 | Apr 11, 2024 | Apr 19, 2024 | $0.0950 | 0.88% |
3 | Mar 13, 2024 | Mar 13, 2024 | Mar 21, 2024 | $0.0950 | 0.82% |
4 | Feb 01, 2024 | Feb 09, 2024 | Feb 20, 2024 | $0.0950 | 0.86% |
5 | Dec 18, 2023 | Dec 28, 2023 | Jan 11, 2024 | $0.0950 | 0.91% |
FAQ
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