The Gabelli Equity Trust Inc. Trust Forecast
The Gabelli Equity Trust Inc. trust price up 0.334% on Tuesday
(Updated on Jul 02, 2024)
The The Gabelli Equity Trust Inc. trust price gained 0.334% on the last trading day (Tuesday, 2nd Jul 2024), rising from $20.96 to $21.03. During the last trading day the trust fluctuated 0.745% from a day low at $20.87 to a day high of $21.03. The price has fallen in 6 of the last 10 days and is down by -2.05% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 8 thousand shares were bought and sold for approximately $162.81 thousand.
The trust is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect The Gabelli Equity Trust Inc. trust with a 90% probability to be traded between $20.50 and $21.14 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 trusts seldom manage to go directly from the bottom of a trend up to the top. Trusts turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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GAB-PH Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 28, 2024, and so far it has risen 0.574%. Further rise is indicated until a new top pivot has been found. The Gabelli Equity Trust Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The The Gabelli Equity Trust Inc. trust 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 $21.05 and $21.23. 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).
Support, Risk & Stop-loss for The Gabelli Equity Trust Inc. trust
The Gabelli Equity Trust Inc. finds support from accumulated volume at $21.01 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the trust tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the trust moved $0.156 between high and low, or 0.745%. For the last week the trust has had daily average volatility of 0.788%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GAB-PH) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect The Gabelli Equity Trust Inc. to open at $20.98, and during the day (based on 14 day Average True Range), to move between $20.83 and $21.23, which gives a possible trading interval of +/-$0.202 (+/-0.96%) up or down from last closing price. If The Gabelli Equity Trust Inc. takes out the full calculated possible swing range there will be an estimated 1.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.01 (0.10%) than the resistance at $21.08 (0.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is The Gabelli Equity Trust Inc. trust A Buy?
The Gabelli Equity Trust Inc. holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this trust.
Current score: -2.797 Sell Candidate Unchanged
Predicted Opening Price for The Gabelli Equity Trust Inc. of Wednesday, July 3, 2024
Fair opening price July 3, 2024 | Current price |
---|---|
$20.98 ( 0.246%) | $21.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GAB-PH
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 21.13 | 0.493% |
R2 | 21.07 | 0.210% |
R1 | 21.04 | 0.0360% |
Price | 21.03 | |
S1 | 20.92 | -0.529% |
S2 | 20.88 | -0.703% |
S3 | 20.82 | -0.99% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 21.45 | 2.00% |
R2 | 21.38 | 1.66% |
R1 | 21.08 | 0.238% |
Price | 21.03 | |
S1 | 21.01 | -0.0951% |
S2 | 20.98 | -0.238% |
S3 | 20.91 | -0.571% |
FAQ
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