AllianzGI Equity & Convertible Income 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
Green day on Thursday for AllianzGI Equity & Convertible Income
(Updated on May 02, 2024)
The AllianzGI Equity & Convertible Income stock price gained 0.599% on the last trading day (Thursday, 2nd May 2024), rising from $21.72 to $21.85. During the last trading day the stock fluctuated 0.93% from a day low at $21.69 to a day high of $21.89. The price has been going up and down for this period, and there has been a 1.3% gain for the last 2 weeks. Volume fell on the last day by -11 thousand shares and in total, 39 thousand shares were bought and sold for approximately $847.85 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect AllianzGI Equity & Convertible Income stock with a 90% probability to be traded between $21.32 and $22.40 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
There are few to no technical positive signals at the moment. The AllianzGI Equity & Convertible Income stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $21.98. On a fall, the stock will find some support from the short-term average at $21.81. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -0.365%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 also not.
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 5.79% to $23.12 within 24 trading days since signal was issued (Friday, May 03, 2024).
Support, Risk & Stop-loss for AllianzGI Equity & Convertible Income stock
AllianzGI Equity & Convertible Income finds support from accumulated volume at $21.84 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 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 stock During the last day, the stock moved $0.201 between high and low, or 0.93%. For the last week the stock has had daily average volatility of 1.02%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NIE) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect AllianzGI Equity & Convertible Income Fund to open at $21.81, and during the day (based on 14 day Average True Range), to move between $21.59 and $22.11, which gives a possible trading interval of +/-$0.265 (+/-1.21%) 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 2.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.84 (0.05%) than the resistance at $22.13 (1.28%), 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?
AllianzGI Equity & Convertible Income 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.
Current score: -3.472 Sell Candidate Unchanged
Predicted Opening Price for AllianzGI Equity & Convertible Income Fund of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $21.81 ( 0.185%) | $21.85 |
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 | 22.01 | 0.736 % | |
| R2 | 21.93 | 0.384 % | ||
| R1 | 21.89 | 0.167 % | ||
| Current price: | 21.85 | |||
| Support | S1 | 21.73 | -0.537 % | |
| S2 | 21.69 | -0.754 % | ||
| S3 | 21.61 | -1.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.29 | 2.01 % | |
| R2 | 22.25 | 1.83 % | ||
| R1 | 22.13 | 1.28 % | ||
| Current price | 21.85 | |||
| Support | S1 | 21.84 | -0.0458% | |
| S2 | 21.74 | -0.503% | ||
| S3 | 21.71 | -0.641% |
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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