Aberdeen Global Income Fund Inc Stock Forecast
Red day on Thursday for Aberdeen Global Income Fund Inc stock after losing 0.180%
(Updated on May 02, 2024)
The Aberdeen Global Income Fund Inc stock price fell by -0.180% on the last day (Thursday, 2nd May 2024) from $5.57 to $5.56. During the last trading day the stock fluctuated 1.09% from a day low at $5.51 to a day high of $5.57. The price has fallen in 6 of the last 10 days but is still up by 1.09% over the past 2 weeks. Volume has increased on the last day by 12 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, 41 thousand shares were bought and sold for approximately $229.37 thousand.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Aberdeen Global Income Fund Inc stock with a 90% probability to be traded between $5.43 and $6.00 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.
FCO Signals & Forecast
The Aberdeen Global Income Fund Inc 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 $5.53 and $5.43. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 5.10%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. Aberdeen Global Income Fund Inc 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".
Support, Risk & Stop-loss for Aberdeen Global Income Fund Inc stock
Aberdeen Global Income Fund Inc finds support from accumulated volume at $5.38 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 $0.0599 between high and low, or 1.09%. For the last week the stock has had daily average volatility of 1.96%.
Our recommended stop-loss: $5.35 (-3.70%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (FCO) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Aberdeen Global Income Fund Inc to open at $5.55, and during the day (based on 14 day Average True Range), to move between $5.45 and $5.67, which gives a possible trading interval of +/-$0.113 (+/-2.03%) up or down from last closing price. If Aberdeen Global Income Fund Inc takes out the full calculated possible swing range there will be an estimated 4.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.57 (0.18%) than the support at $5.38 (3.24%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Aberdeen Global Income Fund Inc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Aberdeen Global Income Fund Inc stock to perform well in the short-term period.
Current score: 3.150 Buy Candidate Unchanged
Predicted Opening Price for Aberdeen Global Income Fund Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $5.55 ( 0.240%) | $5.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FCO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.61 | 0.84 % | |
| R2 | 5.58 | 0.425 % | ||
| R1 | 5.57 | 0.171 % | ||
| Current price: | 5.56 | |||
| Support | S1 | 5.52 | -0.652 % | |
| S2 | 5.51 | -0.91 % | ||
| S3 | 5.49 | -1.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.82 | 4.68 % | |
| R2 | 5.68 | 2.16 % | ||
| R1 | 5.57 | 0.180 % | ||
| Current price | 5.56 | |||
| Support | S1 | 5.38 | -3.24% | |
| S2 | 5.32 | -4.32% | ||
| S3 | 5.31 | -4.50% |
FCO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 22, 2024 | Apr 22, 2024 | Apr 30, 2024 | $0.0700 | 1.28% |
| 2 | Mar 20, 2024 | Mar 20, 2024 | Mar 28, 2024 | $0.0700 | 1.29% |
| 3 | Feb 09, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.0700 | 1.25% |
| 4 | Jan 10, 2024 | Jan 23, 2024 | Jan 31, 2024 | $0.0700 | 1.34% |
| 5 | Dec 11, 2023 | Dec 28, 2023 | Jan 10, 2024 | $0.0700 | 1.37% |
FAQ
Click here for our free guide on how to buy Aberdeen Global Income Fund Inc Stock.
