Technical Analysis for MCN - Madison Covered Call & Equity Strategy Fund

Grade Last Price % Change Price Change
C 7.13 0.56% 0.04
MCN closed up 0.56 percent on Friday, May 3, 2024, on 52 percent of normal volume. It ran into resistance at its 50 day moving average.
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Trend Table & Recent EOD Trading Signals

ADX Long Term Intermediate Term Short Term
Weak or Absent Up Flat Up

Date Alert Name Type % Chg
50 DMA Resistance Bearish 0.00%
Bollinger Band Squeeze Range Contraction 0.00%
BB Squeeze Started Range Contraction 0.00%
Inside Day Range Contraction 0.00%
Gapped Up Strength 0.00%
50 DMA Resistance Bearish 0.56%
Crossed Above 20 DMA Bullish 0.56%
Gapped Up Strength 0.56%
20 DMA Resistance Bearish 1.71%
20 DMA Resistance Bearish 1.71%

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Profile

Madison Covered Call & Equity Strategy Fund Description

Madison/Claymore Covered Call & Equity Strategy Fund is a closed-ended equity mutual fund launched and managed by by Guggenheim Funds Investment Advisors, LLC. The fund is co-managed by Madison Asset Management, LLC. It invests in the public equity markets of the United States. The fund primarily invests in stocks of companies operating across diversified sectors. It invests in growth oriented value stocks of large-cap companies. The fund sells covered call options to seek to generate a reasonably steady return from option premiums. It employs a fundamental analysis with a bottom up stock picking approach focusing on financial strength and industry leadership to create its portfolio. The fund benchmarks the performance of its portfolio against the CBOE S&P 500 BuyWrite Index and the S&P 500 Index. It conducts in-house research to make its investments. The fund was formerly known as Madison/Claymore Covered Call Fund. Madison/Claymore Covered Call & Equity Strategy Fund was founded on May 6, 2004 and is domiciled in the United States.


Classification

Keywords: Exchange Traded Fund ETF Covered Call Cboe S&P 500 Buywrite Index

Is MCN a Buy, Sell or Hold?

Indicator Bull Case Neutral / Hold Bear Case
50 DMA
200 DMA
ADX Trend
Oversold / Overbought
Relative Strength

Indicators

Indicator Value
52 Week High 7.72
52 Week Low 6.3669
Average Volume 50,050
200-Day Moving Average 6.91
50-Day Moving Average 7.14
20-Day Moving Average 7.04
10-Day Moving Average 7.04
Average True Range 0.09
RSI (14) 54.13
ADX 14.85
+DI 25.57
-DI 15.34
Chandelier Exit (Long, 3 ATRs) 7.05
Chandelier Exit (Short, 3 ATRs) 7.20
Upper Bollinger Bands 7.19
Lower Bollinger Band 6.90
Percent B (%b) 0.8
BandWidth 4.08
MACD Line -0.03
MACD Signal Line -0.04
MACD Histogram 0.0145
Pivot Point Level Traditional / Classic Fibonacci Demark Woodie Camarilla
Resistance 4 (R4) 7.21
Resistance 3 (R3) 7.20 7.18 7.19
Resistance 2 (R2) 7.18 7.16 7.18 7.19
Resistance 1 (R1) 7.15 7.15 7.16 7.16 7.18
Pivot Point 7.13 7.13 7.13 7.13 7.13
Support 1 (S1) 7.10 7.11 7.11 7.11 7.08
Support 2 (S2) 7.08 7.10 7.08 7.07
Support 3 (S3) 7.05 7.08 7.07
Support 4 (S4) 7.06