Advent Claymore Convertible Securities Stock Forecast

Advent Claymore Convertible Securities stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Apr 17, 2024)

AVK Signals & Forecast

The Advent Claymore Convertible Securities 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 $11.63 and $11.84. 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 Tuesday, April 16, 2024, and so far it has risen 1.16%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Advent Claymore Convertible Securities stock

Advent Claymore Convertible Securities finds support from accumulated volume at $11.29 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 $0.230 between high and low, or 2.04%. For the last week the stock has had daily average volatility of 2.17%.

Our recommended stop-loss: $10.69 (-5.94%) (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 (AVK) For The Upcoming Trading Day Of Thursday 18th

For the upcoming trading day on Thursday, 18th we expect Advent Claymore Convertible Securities and Income Fund to open at $11.40, and during the day (based on 14 day Average True Range), to move between $11.17 and $11.55, which gives a possible trading interval of +/-$0.189 (+/-1.66%) up or down from last closing price. If Advent Claymore Convertible Securities and Income Fund takes out the full calculated possible swing range there will be an estimated 3.32% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $11.29 (0.62%) than the resistance at $11.87 (4.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Advent Claymore Convertible Securities and 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: 2.073 Buy Candidate Upgraded

Predicted Opening Price for Advent Claymore Convertible Securities and Income Fund of Thursday, April 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.