A Reversal for AllianzGI Convertible & Income Fund II (NCZ) Is Not Near. The Formed Bearish Multiple Bottom

June 26, 2018 - By Richard Conner

Investors sentiment decreased to 0.89 in Q1 2018. Its down 0.36, from 1.25 in 2017Q4. It worsened, as 4 investors sold AllianzGI Convertible & Income Fund II shares while 14 reduced holdings. 7 funds opened positions while 9 raised stakes. 8.30 million shares or 2.19% less from 8.49 million shares in 2017Q4 were reported.
Essex Svcs reported 11,100 shares. Cambridge Invest Rech Advsrs Incorporated holds 43,729 shares. Morgan Stanley reported 1.15M shares. Nine Masts holds 10,900 shares. Capital Inv Advsr Ltd Liability Com reported 57,168 shares or 0.02% of all its holdings. Focused Wealth Management invested 0% of its portfolio in AllianzGI Convertible & Income Fund II (NYSE:NCZ). Bancorporation Of America De has 738,370 shares. Royal Retail Bank Of Canada reported 0% in AllianzGI Convertible & Income Fund II (NYSE:NCZ). Gradient Investments Limited Liability Company holds 28 shares or 0% of its portfolio. The Kansas-based Creative Planning has invested 0% in AllianzGI Convertible & Income Fund II (NYSE:NCZ). The Ontario – Canada-based Manufacturers Life Ins The has invested 0% in AllianzGI Convertible & Income Fund II (NYSE:NCZ). Citigroup holds 0% or 200 shares in its portfolio. Jpmorgan Chase & invested in 0% or 2,382 shares. Guggenheim Lc reported 1.75M shares stake. Churchill Management stated it has 0% of its portfolio in AllianzGI Convertible & Income Fund II (NYSE:NCZ).

The stock of AllianzGI Convertible & Income Fund II (NCZ) shows a multiple bottoms pattern with $5.53 target or 8.00 % below today’s $6.01 share price. The 8 months chart pattern indicates high risk for the $451.16 million company. It was reported on Jun, 26 by Finviz.com. If the $5.53 price target is reached, the company will be worth $36.09 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 0.50% or $0.03 during the last trading session, reaching $6.01. About 187,016 shares traded. AllianzGI Convertible & Income Fund II (NYSE:NCZ) has declined 3.55% since June 26, 2017 and is downtrending. It has underperformed by 16.12% the S&P500.

Another recent and important AllianzGI Convertible & Income Fund II (NYSE:NCZ) news was published by Businesswire.com which published an article titled: “AllianzGI Convertible & Income Fund and AllianzGI Convertible & Income Fund II Announce Tender Offers for …” on June 20, 2018.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our daily email newsletter.