Weaker technical forecast for Calamos Convertible and High Income Fund as fund downgraded to Sell Candidate.
(Updated on Dec 03, 2021)
Sell candidate since 2021-12-03 PDF
The Calamos Convertible and High Income Fund fund price fell by -1.15% on the last day (Friday, 3rd Dec 2021) from $15.70 to $15.52. During the day the fund fluctuated 2.27% from a day low at $15.41 to a day high of $15.76. The price has fallen in 9 of the last 10 days and is down by -7.84% for this period. Volume fell on the last day along with the fund, which is actually a good sign as volume should follow the fund. On the last day, the trading volume fell by -60 thousand shares and in total, 118 thousand shares were bought and sold for approximately $1.84 million.
The fund has broken the weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $15.74. A reaction back to this level may hold a second chance to get out before further falls.
Signals & Forecast
There are few to no technical positive signals at the moment. The Calamos Convertible and High Income Fund fund 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 $15.89 and $16.52. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, November 09, 2021, and so far it has fallen -8.59%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss
Calamos Convertible and High Income Fund finds support from accumulated volume at $15.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This fund has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the fund moved $0.35 between high and low, or 2.27%. For the last week, the fund has had a daily average volatility of 2.79%.
Calamos Convertible and High Income Fund is oversold on RSI14 (6). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.
Is Calamos Convertible and High Income Fund fund A Buy?
The Calamos Convertible and High Income Fund fund holds several negative signals and despite the positive trend, we believe Calamos Convertible and High Income Fund will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this fund. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this fund since the last evaluation from a Buy to a Sell candidate.
Current score: -2.066
Predicted Opening Price for Calamos Convertible and High Income Fund of Monday, December 6, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 6, 2021||Current price|
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