Calamos Convertible and High Income Fund Stock Forecast
Calamos Convertible and High Income Fund stock downgraded to Hold/Accumulate
(Updated on Jul 03, 2024)
The Calamos Convertible and High Income Fund stock price gained 0.80% on the last trading day (Wednesday, 3rd Jul 2024), rising from $11.23 to $11.32. It has now gained 5 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 0.98% from a day low at $11.21 to a day high of $11.32. The price has risen in 6 of the last 10 days and is up by 1.8% over the past 2 weeks. Volume fell on the last day by -93 thousand shares and in total, 66 thousand shares were bought and sold for approximately $750.75 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 and High Income Fund stock with a 90% probability to be traded between $10.70 and $11.37 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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CHY Signals & Forecast
The Calamos Convertible and High Income Fund stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $11.16 and $11.18. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 2.35%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The stock had a Golden Star Signal on Friday, June 28, 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.
Golden Star
The stock had a Golden Star Signal on Friday, June 28, 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.
A sell signal from a double top formation was found on Wednesday, June 12, 2024 and based on theory for this formation the price should fall by -3.58% to $10.91 within 35 trading days (Friday, August 02, 2024) since signal was issued.
Support, Risk & Stop-loss for Calamos Convertible and High Income Fund stock
Calamos Convertible and High Income Fund finds support from accumulated volume at $11.23 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 therefore the general risk is considered very 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 $0.110 between high and low, or 0.98%. For the last week the stock has had daily average volatility of 0.87%
Our recommended stop-loss: $10.70 (-5.44%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (CHY) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Calamos Convertible and High Income Fund to open at $11.28, and during the day (based on 14 day Average True Range), to move between $11.20 and $11.44, which gives a possible trading interval of +/-$0.118 (+/-1.05%) 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 2.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.34 (0.18%) than the support at $11.23 (0.80%), 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 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. 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 Hold/Accumulate candidate.
Current score: 0.776 Hold/Accumulate Downgraded
Predicted Opening Price for Calamos Convertible and High Income Fund of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| $11.28 ( 0.322%) | $11.32 |
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 | |
|---|---|---|
| R3 | 11.39 | 0.645% |
| R2 | 11.35 | 0.275% |
| R1 | 11.33 | 0.0471% |
| Price | 11.32 | |
| S1 | 11.24 | -0.692% |
| S2 | 11.22 | -0.92% |
| S3 | 11.17 | -1.29% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11.48 | 1.41% |
| R2 | 11.40 | 0.707% |
| R1 | 11.34 | 0.177% |
| Price | 11.32 | |
| S1 | 11.23 | -0.795% |
| S2 | 11.14 | -1.59% |
| S3 | 11.13 | -1.68% |
CHY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 13, 2024 | May 21, 2024 | $0.100 | 0.88% |
| 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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