Virtus Convertible & Income Fund Trust Forecast

Virtus Convertible & Income Fund trust upgraded from Sell Candidate to Buy Candidate after Thursday trading session.
(Updated on Jun 20, 2024)

NCV-PA Signals & Forecast

The Virtus Convertible & Income Fund trust holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the trust 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 $22.09 and $22.11. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 1.46%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 not be. 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 $22.10 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 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 trust During the last day, the trust moved $0.0799 between high and low, or 0.362%. For the last week the trust has had daily average volatility of 0.676%

Our recommended stop-loss: $21.20 (-4.37%) (This trust has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 51 days ago.)

Trading Expectations (NCV-PA) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Virtus Convertible & Income Fund to open at $22.15, and during the day (based on 14 day Average True Range), to move between $21.95 and $22.39, which gives a possible trading interval of +/-$0.223 (+/-1.01%) 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 2.02% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $22.10 (0.32%) than the resistance at $22.49 (1.44%), 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?

Several short-term signals are positive, despite the trust being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for trust to perform well in the short-term. We have upgraded our analysis conclusion for this trust since the last evaluation from a Sell to a Buy candidate.

Current score: 1.903 Buy Candidate Upgraded

Predicted Opening Price for Virtus Convertible & Income Fund of Friday, June 21, 2024

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