Guggenheim Credit Allocation Fund Fund Forecast

Guggenheim Credit Allocation Fund fund price up 0.790% on Thursday
(Updated on May 02, 2024)

GGM Signals & Forecast

The Guggenheim Credit Allocation Fund fund holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the fund 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 $26.60 and $26.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 2.29%. 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). Guggenheim Credit Allocation Fund has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Guggenheim Credit Allocation Fund fund

Guggenheim Credit Allocation Fund finds support from accumulated volume at $26.61 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the fund tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the fund moved $0.0561 between high and low, or 0.210%. For the last week the fund has had daily average volatility of 0.0420%.

Our recommended stop-loss: $25.33 (-5.41%) (This fund has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)

Trading Expectations (GGM) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Guggenheim Credit Allocation Fund to open at $26.77, and during the day (based on 14 day Average True Range), to move between $26.68 and $26.88, which gives a possible trading interval of +/-$0.0954 (+/-0.36%) up or down from last closing price. If Guggenheim Credit Allocation Fund takes out the full calculated possible swing range there will be an estimated 0.71% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $26.84 (0.23%) than the support at $26.61 (0.62%), 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 Guggenheim Credit Allocation Fund fund A Buy?

Guggenheim Credit Allocation 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.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Guggenheim Credit Allocation Fund of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.