AllianzGI Convertible & Income Fund (NCV) Can’t Be More Risky. The Stock Formed a Wedge Down Chart Pattern

April 17, 2018 - By Rusty Cady

Investors sentiment increased to 2 in 2017 Q4. Its up 1.35, from 0.65 in 2017Q3. It improved, as 4 investors sold AllianzGI Convertible & Income Fund shares while 9 reduced holdings. 10 funds opened positions while 16 raised stakes. 9.79 million shares or 5.80% more from 9.25 million shares in 2017Q3 were reported.
National Bank & Trust Of Montreal Can has 585,000 shares. 8 are owned by Allsquare Wealth Management Limited Company. Georgia-based Invesco Limited has invested 0% in AllianzGI Convertible & Income Fund (NYSE:NCV). Cambridge Investment Advsr Incorporated holds 0.02% or 199,314 shares in its portfolio. Stratford Consulting Lc has invested 0.03% in AllianzGI Convertible & Income Fund (NYSE:NCV). Lpl Financial Limited Co invested in 0% or 62,399 shares. Vident Investment Advisory Limited Co has 357,453 shares for 0.11% of their portfolio. Royal National Bank Of Canada stated it has 0% in AllianzGI Convertible & Income Fund (NYSE:NCV). Tower Research Capital (Trc) stated it has 399 shares or 0% of all its holdings. 13,400 are held by Hyman Charles D. Hightower Ltd Llc reported 0% stake. 55,500 were accumulated by Nine Masts Ltd. Rbo Co Ltd Liability Co reported 0.03% of its portfolio in AllianzGI Convertible & Income Fund (NYSE:NCV). Moreover, National Bank Of America Corp De has 0% invested in AllianzGI Convertible & Income Fund (NYSE:NCV). Bokf Na reported 0% in AllianzGI Convertible & Income Fund (NYSE:NCV).

The stock of AllianzGI Convertible & Income Fund (NCV) formed a down wedge with $6.31 target or 7.00 % below today’s $6.78 share price. The 7 months wedge indicates high risk for the $596.77 million company. If the $6.31 price target is reached, the company will be worth $41.77M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 0.44% or $0.03 during the last trading session, reaching $6.78. About 214,316 shares traded. AllianzGI Convertible & Income Fund (NYSE:NCV) has risen 1.69% since April 17, 2017 and is uptrending. It has underperformed by 9.86% the S&P500.

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