AllianzGI Equity & Convertible Income Stock Forecast
Stronger technical forecast for AllianzGI Equity & Convertible Income stock price after Monday trading.
(Updated on Apr 22, 2024)
The AllianzGI Equity & Convertible Income stock price gained 0.98% on the last trading day (Monday, 22nd Apr 2024), rising from $21.38 to $21.59. During the last trading day the stock fluctuated 0.531% from a day low at $21.50 to a day high of $21.61. The price has fallen in 8 of the last 10 days and is down by -3.92% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 43 thousand more shares were traded than the day before. In total, 68 thousand shares were bought and sold for approximately $1.47 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $21.39 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect AllianzGI Equity & Convertible Income stock with a 90% probability to be traded between $21.80 and $23.09 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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NIE Signals & Forecast
The AllianzGI Equity & Convertible Income 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 $21.67 and $22.03. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.98%. Further rise is indicated until a new top pivot has been found. AllianzGI Equity & Convertible Income 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. Higher liquidity also reduces the general risk. The stock had a Golden Star Signal on Thursday, April 27, 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 stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Thursday, April 27, 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 stock in question.
A buy signal from a double bottom formation was found on Friday, April 19, 2024 and based on theory for this formation the price should go up by 7.06% to $23.12 within 24 trading days since signal was issued (Tuesday, April 23, 2024).
Support, Risk & Stop-loss for AllianzGI Equity & Convertible Income stock
AllianzGI Equity & Convertible Income finds support from accumulated volume at $21.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.114 between high and low, or 0.531%. For the last week the stock has had daily average volatility of 1.03%.
Our recommended stop-loss: $20.31 (-5.95%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (NIE) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect AllianzGI Equity & Convertible Income Fund to open at $21.56, and during the day (based on 14 day Average True Range), to move between $21.31 and $21.87, which gives a possible trading interval of +/-$0.277 (+/-1.28%) up or down from last closing price. If AllianzGI Equity & Convertible Income Fund takes out the full calculated possible swing range there will be an estimated 2.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.55 (0.19%) than the resistance at $22.13 (2.50%), 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 Equity & Convertible Income Fund stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.413 Buy Candidate Upgraded
Predicted Opening Price for AllianzGI Equity & Convertible Income Fund of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $21.56 ( 0.117%) | $21.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NIE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.68 | 0.412 % | |
| R2 | 21.64 | 0.210 % | ||
| R1 | 21.61 | 0.0850 % | ||
| Current price: | 21.59 | |||
| Support | S1 | 21.52 | -0.319 % | |
| S2 | 21.49 | -0.444 % | ||
| S3 | 21.45 | -0.646 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.29 | 3.24 % | |
| R2 | 22.25 | 3.06 % | ||
| R1 | 22.13 | 2.50 % | ||
| Current price | 21.59 | |||
| Support | S1 | 21.55 | -0.185% | |
| S2 | 21.48 | -0.509% | ||
| S3 | 21.43 | -0.741% |
NIE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 01, 2024 | Mar 08, 2024 | Mar 28, 2024 | $0.500 | 2.23% |
| 2 | Nov 16, 2023 | Dec 08, 2023 | Dec 22, 2023 | $0.500 | 2.39% |
| 3 | Aug 31, 2023 | Sep 08, 2023 | Sep 22, 2023 | $0.500 | 2.48% |
| 4 | Mar 16, 2023 | Jun 09, 2023 | Jun 23, 2023 | $0.500 | 2.45% |
| 5 | Jan 12, 2023 | Mar 10, 2023 | Mar 24, 2023 | $0.500 | 2.63% |
FAQ
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