AllianzGI Convertible & Income Fund Stock Forecast
AllianzGI Convertible & Income Fund stock downgraded to Sell Candidate
(Updated on Apr 19, 2024)
The AllianzGI Convertible & Income Fund stock price fell by -0.328% on the last day (Friday, 19th Apr 2024) from $3.05 to $3.04. During the last trading day the stock fluctuated 1.32% from a day low at $3.03 to a day high of $3.07. The price has fallen in 5 of the last 10 days and is down by -6.46% for this period. Volume has increased on the last day by 19 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 649 thousand shares were bought and sold for approximately $1.97 million.
The stock lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $3.03 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.51% during the next 3 months and, with a 90% probability hold a price between $2.92 and $3.19 at the end of this 3-month period.
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NCV Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 0.165%. 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. The AllianzGI Convertible & Income Fund stock 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 $3.08 and $3.23. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for AllianzGI Convertible & Income Fund stock
AllianzGI Convertible & Income Fund finds support from accumulated volume at $3.04 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0400 between high and low, or 1.32%. For the last week, the stock has had daily average volatility of 1.91%.
AllianzGI Convertible & Income Fund is oversold on RSI14 (15). 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 a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NCV) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect AllianzGI Convertible & Income Fund to open at $3.05, and during the day (based on 14 day Average True Range), to move between $2.99 and $3.09, which gives a possible trading interval of +/-$0.0543 (+/-1.79%) up or down from last closing price. If AllianzGI Convertible & Income Fund takes out the full calculated possible swing range there will be an estimated 3.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.04 (0.16%) than the resistance at $3.24 (6.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is AllianzGI Convertible & Income Fund stock A Buy?
AllianzGI Convertible & Income Fund holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.782 Sell Candidate Downgraded
Predicted Opening Price for AllianzGI Convertible & Income Fund of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$3.05 ( 0.219%) | $3.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NCV
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.09 | 1.54 % | |
R2 | 3.07 | 1.03 % | ||
R1 | 3.06 | 0.722 % | ||
Current price: | 3.04 | |||
Support | S1 | 3.03 | -0.283 % | |
S2 | 3.02 | -0.594 % | ||
S3 | 3.01 | -1.10 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.27 | 7.57 % | |
R2 | 3.25 | 6.91 % | ||
R1 | 3.24 | 6.58 % | ||
Current price | 3.04 | |||
Support | S1 | 3.04 | -0.164% | |
S2 | 0 | . | ||
S3 | 0 | . |
NCV Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 06, 2024 | Jun 13, 2024 | Jun 27, 2024 | $0.0340 | 1.12% |
2 | May 10, 2024 | May 10, 2024 | May 30, 2024 | $0.0340 | 1.12% |
3 | Mar 01, 2024 | Apr 10, 2024 | Apr 29, 2024 | $0.0340 | 1.12% |
4 | Mar 01, 2024 | Mar 08, 2024 | Mar 28, 2024 | $0.0340 | 1.02% |
5 | Nov 21, 2023 | Feb 09, 2024 | Feb 28, 2024 | $0.0340 | 1.06% |
FAQ
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