Virtus Convertible & Income Fund Trust Forecast

Evaluation of Virtus Convertible & Income Fund trust downgraded after the last trading session.
(Updated on Jun 18, 2024)

NCV-PA Signals & Forecast

There are mixed signals in the trust today. The Virtus Convertible & Income Fund trust 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 $22.08 and $22.12. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 0.87%. 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). Virtus Convertible & Income 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. The trust had a Golden Star Signal on Wednesday, July 12, 2023 in the long-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 trust in question.

Support, Risk & Stop-loss for Virtus Convertible & Income Fund trust

Virtus Convertible & Income Fund finds support from accumulated volume at $22.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the trust tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the trust moved $0.0795 between high and low, or 0.361%. For the last week the trust has had daily average volatility of 0.83%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (NCV-PA) For The Upcoming Trading Day Of Thursday 20th

For the upcoming trading day on Thursday, 20th we expect Virtus Convertible & Income Fund to open at $22.06, and during the day (based on 14 day Average True Range), to move between $21.81 and $22.27, which gives a possible trading interval of +/-$0.231 (+/-1.05%) up or down from last closing price. If Virtus Convertible & Income Fund takes out the full calculated possible swing range there will be an estimated 2.10% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $22.00 (0.18%) than the resistance at $22.10 (0.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Virtus Convertible & Income Fund trust A Buy?

Virtus Convertible & Income Fund 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 trust. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this trust since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.862 Sell Candidate Downgraded

Predicted Opening Price for Virtus Convertible & Income Fund of Thursday, June 20, 2024

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