Gabelli Equity Trust Inc (The) Stock Forecast
Gabelli Equity Trust Inc (The) stock price ended at $5.21 on Thursday, after losing 0%.
(Updated on Apr 18, 2024)
No changes to the price of Gabelli Equity Trust Inc (The) stock on the last trading day (Thursday, 18th Apr 2024). During the last trading day the stock fluctuated 1.93% from a day low at $5.19 to a day high of $5.29. The price has fallen in 5 of the last 10 days and is down by -2.98% for this period.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $5.18 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.73% during the next 3 months and, with a 90% probability hold a price between $5.43 and $6.11 at the end of this 3-month period.
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GAB Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 0.774%. Further rise is indicated until a new top pivot has been found. The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Gabelli Equity Trust Inc (The) stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $5.25 and $5.44. A break-up above any of these levels will issue buy signals. 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, January 19, 2024 in the long-term chart.
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, January 19, 2024 in the long-term chart.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 Gabelli Equity Trust Inc (The) stock
Gabelli Equity Trust Inc (The) finds support from accumulated volume at $5.19 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.1000 (1.93%) between high and low. For the last week, the stock has had daily average volatility of 1.79%.
Gabelli Equity Trust Inc (The) is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GAB) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Gabelli Equity Trust Inc (The) to open at $5.23, and during the day (based on 14 day Average True Range), to move between $5.13 and $5.29, which gives a possible trading interval of +/-$0.0818 (+/-1.57%) up or down from last closing price. If Gabelli Equity Trust Inc (The) takes out the full calculated possible swing range there will be an estimated 3.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.19 (0.38%) than the resistance at $5.43 (4.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Gabelli Equity Trust Inc (The) stock A Buy?
The Gabelli Equity Trust Inc (The) stock holds several negative signals and despite the positive trend, we believe Gabelli Equity Trust Inc (The) will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.679 Sell Candidate Unchanged
Predicted Opening Price for Gabelli Equity Trust Inc (The) of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $5.23 ( 0.384%) | $5.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GAB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.33 | 2.30 % | |
| R2 | 5.29 | 1.57 % | ||
| R1 | 5.27 | 1.12 % | ||
| Current price: | 5.21 | |||
| Support | S1 | 5.19 | -0.349 % | |
| S2 | 5.17 | -0.80 % | ||
| S3 | 5.13 | -1.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.55 | 6.53 % | |
| R2 | 5.50 | 5.57 % | ||
| R1 | 5.43 | 4.22 % | ||
| Current price | 5.21 | |||
| Support | S1 | 5.19 | -0.384% | |
| S2 | 5.17 | -0.768% | ||
| S3 | 5.11 | -1.92% |
GAB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 13, 2024 | Mar 13, 2024 | Mar 21, 2024 | $0.150 | 2.73% |
| 2 | Nov 16, 2023 | Dec 14, 2023 | Dec 22, 2023 | $0.150 | 2.92% |
| 3 | Aug 25, 2023 | Sep 14, 2023 | Sep 22, 2023 | $0.150 | 2.84% |
| 4 | May 18, 2023 | Jun 14, 2023 | Jun 23, 2023 | $0.150 | 2.63% |
| 5 | Feb 17, 2023 | Mar 16, 2023 | Dec 14, 2018 | $0.150 | 2.73% |
FAQ
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