GAMCO Global Gold, Natural Resources & Stock Forecast
Stronger technical forecast for GAMCO Global Gold, Natural Resources & stock price after Thursday trading.
(Updated on Mar 28, 2024)
The GAMCO Global Gold, Natural Resources & stock price gained 0.521% on the last trading day (Thursday, 28th Mar 2024), rising from $3.84 to $3.86. During the last trading day the stock fluctuated 1.04% from a day low at $3.83 to a day high of $3.87. The price has risen in 5 of the last 10 days and is up by 2.12% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 328 thousand more shares were traded than the day before. In total, 625 thousand shares were bought and sold for approximately $2.41 million.
The stock has broken the narrow and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $3.86, a level that may pose a second chance to hit a runner. According to fan-theory $4.00 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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GGN Signals & Forecast
The GAMCO Global Gold, Natural Resources & stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $3.84 and $3.77. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 2.12%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Friday, March 01, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, December 12, 2023.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, March 01, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, December 12, 2023.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Friday, March 01, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, December 12, 2023.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for GAMCO Global Gold, Natural Resources & stock
GAMCO Global Gold, Natural Resources & finds support from accumulated volume at $3.76 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 $0.0400 between high and low, or 1.04%. For the last week the stock has had daily average volatility of 0.787%.
Our recommended stop-loss: $3.65 (-5.36%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (GGN) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect GAMCO Global Gold, Natural Resources & Income Trust to open at $3.85, and during the day (based on 14 day Average True Range), to move between $3.83 and $3.89, which gives a possible trading interval of +/-$0.0334 (+/-0.86%) up or down from last closing price. If GAMCO Global Gold, Natural Resources & Income Trust takes out the full calculated possible swing range there will be an estimated 1.73% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $3.76, some $0.100 (2.59%) from the current price of $3.86, our system finds the risk reward attractive.
Is GAMCO Global Gold, Natural Resources & Income Trust stock A Buy?
GAMCO Global Gold, Natural Resources & holds several positive signals and has broken the weak rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.222 Strong Buy Candidate Upgraded
Predicted Opening Price for GAMCO Global Gold, Natural Resources & Income Trust of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$3.85 ( 0.173%) | $3.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GGN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3.89 | 0.86 % | |
R2 | 3.88 | 0.468 % | ||
R1 | 3.87 | 0.223 % | ||
Current price: | 3.86 | |||
Support | S1 | 3.84 | -0.569 % | |
S2 | 3.83 | -0.81 % | ||
S3 | 3.81 | -1.21 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 3.86 | |||
Support | S1 | 3.76 | -2.59% | |
S2 | 3.75 | -2.85% | ||
S3 | 3.73 | -3.37% |
GGN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 13, 2024 | Jun 13, 2024 | Jun 21, 2024 | $0.0300 | 0.775% |
2 | May 15, 2024 | May 15, 2024 | May 23, 2024 | $0.0300 | 0.775% |
3 | Apr 15, 2024 | Apr 15, 2024 | Apr 23, 2024 | $0.0300 | 0.775% |
4 | Nov 16, 2023 | Mar 13, 2024 | Mar 21, 2024 | $0.0300 | 0.779% |
5 | Nov 16, 2023 | Feb 13, 2024 | Feb 22, 2024 | $0.0300 | 0.81% |
FAQ
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