AllianzGI Convertible & Income Fund Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for AllianzGI Convertible & Income Fund stock price after Thursday trading.
(Updated on Apr 18, 2024)
The AllianzGI Convertible & Income Fund stock price fell by -0.651% on the last day (Thursday, 18th Apr 2024) from $3.07 to $3.05. During the last trading day the stock fluctuated 1.98% from a day low at $3.03 to a day high of $3.09. The price has fallen in 4 of the last 10 days and is down by -6.15% for this period. Volume has increased on the last day by 394 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, 630 thousand shares were bought and sold for approximately $1.92 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 -2.82% during the next 3 months and, with a 90% probability hold a price between $2.95 and $3.22 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 0.494%. 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 $3.10 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 $0.0600 between high and low, or 1.98%. For the last week, the stock has had daily average volatility of 2.26%.
AllianzGI Convertible & Income Fund is oversold on RSI14 (14). 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: $2.88 (-5.55%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 14 which reduces the risk some. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (NCV) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect AllianzGI Convertible & Income Fund to open at $3.06, and during the day (based on 14 day Average True Range), to move between $2.99 and $3.11, which gives a possible trading interval of +/-$0.0554 (+/-1.82%) 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 3.63% 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 (0.49%) than the resistance at $3.24 (6.23%), 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 this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.795 Hold/Accumulate Upgraded
Predicted Opening Price for AllianzGI Convertible & Income Fund of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $3.06 ( 0.219%) | $3.05 |
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 | 3.12 | 2.19 % | |
| R2 | 3.09 | 1.43 % | ||
| R1 | 3.08 | 0.97 % | ||
| Current price: | 3.05 | |||
| Support | S1 | 3.03 | -0.533 % | |
| S2 | 3.02 | -1.00 % | ||
| S3 | 3.00 | -1.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.27 | 7.21 % | |
| R2 | 3.25 | 6.56 % | ||
| R1 | 3.24 | 6.23 % | ||
| Current price | 3.05 | |||
| Support | S1 | 3.04 | -0.492% | |
| 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 | 1.11% |
| 2 | May 10, 2024 | May 10, 2024 | May 30, 2024 | $0.0340 | 1.11% |
| 3 | Mar 01, 2024 | Apr 10, 2024 | Apr 29, 2024 | $0.0340 | 1.11% |
| 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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