Virtus Global Multi-Sector Income Fund Stock Forecast
Green day on Friday for Virtus Global Multi-Sector Income Fund
(Updated on May 17, 2024)
The Virtus Global Multi-Sector Income Fund stock price gained 0.0013% on the last trading day (Friday, 17th May 2024), rising from $7.49 to $7.49. During the last trading day the stock fluctuated 1.19% from a day low at $7.44 to a day high of $7.53. The price has risen in 7 of the last 10 days and is up by 0.81% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 5 thousand more shares were traded than the day before. In total, 14 thousand shares were bought and sold for approximately $108.40 thousand.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $7.52 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.83% during the next 3 months and, with a 90% probability hold a price between $6.92 and $7.31 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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VGI Signals & Forecast
The Virtus Global Multi-Sector Income Fund stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $7.49 and $7.41. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Virtus Global Multi-Sector Income Fund 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -0.662%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Virtus Global Multi-Sector Income Fund stock
Virtus Global Multi-Sector Income Fund finds support from accumulated volume at $7.49 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 $0.0886 between high and low, or 1.19%. For the last week the stock has had daily average volatility of 0.743%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VGI) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Virtus Global Multi-Sector Income Fund to open at $7.49, and during the day (based on 14 day Average True Range), to move between $7.43 and $7.55, which gives a possible trading interval of +/-$0.0607 (+/-0.81%) up or down from last closing price. If Virtus Global Multi-Sector Income Fund takes out the full calculated possible swing range there will be an estimated 1.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.49 (0.00%) than the resistance at $7.54 (0.67%), 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 Global Multi-Sector Income Fund stock A Buy?
Virtus Global Multi-Sector Income Fund holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.034 Sell Candidate Unchanged
Predicted Opening Price for Virtus Global Multi-Sector Income Fund of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $7.49 ( 0.0516%) | $7.49 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VGI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.57 | 1.13 % | |
| R2 | 7.54 | 0.679 % | ||
| R1 | 7.52 | 0.400 % | ||
| Current price: | 7.49 | |||
| Support | S1 | 7.45 | -0.503 % | |
| S2 | 7.43 | -0.783 % | ||
| S3 | 7.40 | -1.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.58 | 1.20 % | |
| R2 | 7.56 | 0.93 % | ||
| R1 | 7.54 | 0.666 % | ||
| Current price | 7.49 | |||
| Support | S1 | 7.49 | -0.0013% | |
| S2 | 7.48 | -0.135% | ||
| S3 | 7.38 | -1.47% |
VGI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 13, 2024 | Jun 13, 2024 | Jun 27, 2024 | $0.0800 | 1.07% |
| 2 | May 10, 2024 | May 10, 2024 | May 30, 2024 | $0.0800 | 1.07% |
| 3 | Mar 01, 2024 | Apr 10, 2024 | Apr 29, 2024 | $0.0800 | 1.10% |
| 4 | Mar 01, 2024 | Mar 08, 2024 | Mar 28, 2024 | $0.0800 | 1.04% |
| 5 | Nov 21, 2023 | Feb 09, 2024 | Feb 28, 2024 | $0.0800 | 1.06% |
FAQ
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