AllianzGI Equity & Convertible Income Stock Forecast
AllianzGI Equity & Convertible Income stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 25, 2024)
The AllianzGI Equity & Convertible Income stock price fell by -0.82% on the last day (Thursday, 25th Apr 2024) from $21.84 to $21.66. During the last trading day the stock fluctuated 0.742% from a day low at $21.56 to a day high of $21.72. The price has fallen in 8 of the last 10 days and is down by -3.48% for this period. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 61 thousand shares were bought and sold for approximately $1.31 million.
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 $21.65 and $22.84 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NIE Signals & Forecast
There are mixed signals in the stock today. 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 $21.99. On a fall, the stock will find some support from the short-term average at $21.66. 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). AllianzGI Equity & Convertible Income gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.31%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for AllianzGI Equity & Convertible Income stock
AllianzGI Equity & Convertible Income finds support from accumulated volume at $21.59 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 $0.160 between high and low, or 0.742%. For the last week the stock has had daily average volatility of 0.96%.
Our recommended stop-loss: $20.61 (-4.86%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (NIE) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect AllianzGI Equity & Convertible Income Fund to open at $21.65, and during the day (based on 14 day Average True Range), to move between $21.38 and $21.94, which gives a possible trading interval of +/-$0.279 (+/-1.29%) 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 $21.59 (0.32%) than the resistance at $22.13 (2.17%), 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.422 Hold/Accumulate Upgraded
Predicted Opening Price for AllianzGI Equity & Convertible Income Fund of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$21.65 ( 0.0614%) | $21.66 |
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 | 21.81 | 0.677 % | |
R2 | 21.75 | 0.395 % | ||
R1 | 21.71 | 0.221 % | ||
Current price: | 21.66 | |||
Support | S1 | 21.59 | -0.343 % | |
S2 | 21.55 | -0.518 % | ||
S3 | 21.49 | -0.800 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.29 | 2.91 % | |
R2 | 22.25 | 2.72 % | ||
R1 | 22.13 | 2.17 % | ||
Current price | 21.66 | |||
Support | S1 | 21.59 | -0.323% | |
S2 | 21.57 | -0.416% | ||
S3 | 21.48 | -0.83% |
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
Click here for our free guide on how to buy AllianzGI Equity & Convertible Income Fund Stock.