Calamos Convertible Opportunities and Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Weaker technical forecast for Calamos Convertible Opportunities and as stock downgraded to Sell Candidate.
(Updated on May 02, 2024)
No changes to the price of Calamos Convertible Opportunities and stock on the last trading day (Thursday, 2nd May 2024). During the last trading day the stock fluctuated 1.41% from a day low at $10.99 to a day high of $11.14. The price has risen in 6 of the last 10 days and is up by 3.56% over the past 2 weeks.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Calamos Convertible Opportunities and stock with a 90% probability to be traded between $10.52 and $11.50 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CHI Signals & Forecast
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. 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 $11.12. On a fall, the stock will find some support from the short-term average at $11.03. 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. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -0.541%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".
Support, Risk & Stop-loss for Calamos Convertible Opportunities and stock
Calamos Convertible Opportunities and finds support from accumulated volume at $11.03 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.155 between high and low, or 1.41%. For the last week the stock has had daily average volatility of 1.23%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CHI) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Calamos Convertible Opportunities and Income Fund to open at $11.06, and during the day (based on 14 day Average True Range), to move between $10.87 and $11.21, which gives a possible trading interval of +/-$0.168 (+/-1.52%) 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 3.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.03 (0.09%) than the resistance at $11.05 (0.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Calamos Convertible Opportunities and Income Fund stock A Buy?
Calamos Convertible Opportunities and holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.999 Sell Candidate Downgraded
Predicted Opening Price for Calamos Convertible Opportunities and Income Fund of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $11.06 ( 0.136%) | $11.04 |
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 | 11.21 | 1.54 % | |
| R2 | 11.15 | 1.00 % | ||
| R1 | 11.11 | 0.672 % | ||
| Current price: | 11.04 | |||
| Support | S1 | 11.00 | -0.400 % | |
| S2 | 10.96 | -0.732 % | ||
| S3 | 10.90 | -1.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.54 | 4.53 % | |
| R2 | 11.06 | 0.181 % | ||
| R1 | 11.05 | 0.0906 % | ||
| Current price | 11.04 | |||
| Support | S1 | 11.03 | -0.0906% | |
| S2 | 10.90 | -1.27% | ||
| S3 | 10.81 | -2.08% |
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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