Calamos Convertible and High Income Fund Stock Forecast
Calamos Convertible and High Income Fund stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on May 08, 2024)
The Calamos Convertible and High Income Fund stock price fell by -0.712% on the last day (Wednesday, 8th May 2024) from $11.23 to $11.15. During the last trading day the stock fluctuated 0.81% from a day low at $11.14 to a day high of $11.23. The price has fallen in 4 of the last 10 days and is down by -2.11% for this period. 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 -14 thousand shares and in total, 197 thousand shares were bought and sold for approximately $2.20 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -8.50% during the next 3 months and, with a 90% probability hold a price between $9.66 and $10.55 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CHY Signals & Forecast
There are mixed signals in the stock today. The Calamos Convertible and High Income Fund stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $11.19 and $11.41. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 2.67%. 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).
Support, Risk & Stop-loss for Calamos Convertible and High Income Fund stock
Calamos Convertible and High Income Fund finds support from accumulated volume at $11.14 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 $0.0900 between high and low, or 0.81%. For the last week the stock has had daily average volatility of 0.95%.
Our recommended stop-loss: $10.51 (-5.72%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (CHY) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Calamos Convertible and High Income Fund to open at $11.17, and during the day (based on 14 day Average True Range), to move between $11.00 and $11.30, which gives a possible trading interval of +/-$0.152 (+/-1.36%) up or down from last closing price. If Calamos Convertible and High Income Fund takes out the full calculated possible swing range there will be an estimated 2.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.14 (0.09%) than the resistance at $11.23 (0.72%), 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 and High Income Fund stock A Buy?
Calamos Convertible and High Income Fund holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.909 Hold/Accumulate Upgraded
Predicted Opening Price for Calamos Convertible and High Income Fund of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $11.17 ( 0.209%) | $11.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.26 | 1.02 % | |
| R2 | 11.23 | 0.708 % | ||
| R1 | 11.21 | 0.518 % | ||
| Current price: | 11.15 | |||
| Support | S1 | 11.14 | -0.0991 % | |
| S2 | 11.12 | -0.290 % | ||
| S3 | 11.08 | -0.598 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.02 | 7.80 % | |
| R2 | 11.34 | 1.70 % | ||
| R1 | 11.23 | 0.717 % | ||
| Current price | 11.15 | |||
| Support | S1 | 11.14 | -0.0897% | |
| S2 | 11.13 | -0.179% | ||
| S3 | 10.89 | -2.38% |
CHY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 13, 2024 | May 21, 2024 | $0.100 | 0.90% |
| 2 | Apr 01, 2024 | Apr 11, 2024 | Apr 19, 2024 | $0.100 | 0.90% |
| 3 | Mar 01, 2024 | Mar 13, 2024 | Mar 21, 2024 | $0.100 | 0.83% |
| 4 | Feb 01, 2024 | Feb 09, 2024 | Feb 20, 2024 | $0.100 | 0.83% |
| 5 | Dec 18, 2023 | Dec 28, 2023 | Jan 11, 2024 | $0.100 | 0.87% |
FAQ
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