Guggenheim Credit Allocation Fund Fund Forecast

Guggenheim Credit Allocation Fund fund upgraded to Buy Candidate.
(Updated on Apr 25, 2024)

GGM Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.49%. 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 Guggenheim Credit Allocation Fund fund 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 fund giving a more negative forecast for the stock. On further gains, the fund will meet resistance from the long-term Moving Average at $26.77. On a fall, the fund will find some support from the short-term average at $26.29. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Guggenheim Credit Allocation Fund fund

Guggenheim Credit Allocation Fund finds support from accumulated volume at $26.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the fund 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 fund During the last day, the fund moved $0 between high and low, or 0%. For the last week the fund has had daily average volatility of 0%

Our recommended stop-loss: $25.07 (-5.64%) (This fund has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (GGM) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Guggenheim Credit Allocation Fund to open at $26.57, and during the day (based on 14 day Average True Range), to move between $26.45 and $26.69, which gives a possible trading interval of +/-$0.115 (+/-0.43%) up or down from last closing price. If Guggenheim Credit Allocation Fund takes out the full calculated possible swing range there will be an estimated 0.87% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $26.55 (0.08%) than the resistance at $26.61 (0.16%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Guggenheim Credit Allocation Fund fund A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Guggenheim Credit Allocation Fund fund to perform well in the short-term period. We have upgraded our analysis conclusion for this fund since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.087 Buy Candidate Upgraded

Predicted Opening Price for Guggenheim Credit Allocation Fund of Friday, April 26, 2024

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