StealthGas Stock Forecast
StealthGas stock upgraded to Buy Candidate.
(Updated on Apr 26, 2024)
The StealthGas stock price gained 1.85% on the last trading day (Friday, 26th Apr 2024), rising from $5.96 to $6.07. During the last trading day the stock fluctuated 3.71% from a day low at $5.93 to a day high of $6.15. The price has been going up and down for this period, and there has been a 2.71% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 48 thousand more shares were traded than the day before. In total, 84 thousand shares were bought and sold for approximately $512.07 thousand.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $6.22 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -20.48% during the next 3 months and, with a 90% probability hold a price between $4.12 and $4.95 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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GASS Signals & Forecast
Mostly positive signals in the chart today. The StealthGas stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $5.93 and $5.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 5.20%. 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). StealthGas 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.
Support, Risk & Stop-loss for StealthGas stock
StealthGas finds support from accumulated volume at $6.00 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 $0.220 between high and low, or 3.71%. For the last week the stock has had daily average volatility of 2.98%.
Our recommended stop-loss: $5.73 (-5.57%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (GASS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect StealthGas to open at $6.05, and during the day (based on 14 day Average True Range), to move between $5.91 and $6.23, which gives a possible trading interval of +/-$0.160 (+/-2.63%) up or down from last closing price. If StealthGas takes out the full calculated possible swing range there will be an estimated 5.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $6.09 (0.33%) than the support at $6.00 (1.15%), 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 StealthGas stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.826 Buy Candidate Upgraded
Predicted Opening Price for StealthGas of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$6.05 ( 0.329%) | $6.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GASS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.27 | 3.29 % | |
R2 | 6.19 | 1.91 % | ||
R1 | 6.13 | 1.06 % | ||
Current price: | 6.07 | |||
Support | S1 | 5.97 | -1.71 % | |
S2 | 5.91 | -2.57 % | ||
S3 | 5.83 | -3.95 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.20 | 18.62 % | |
R2 | 6.54 | 7.74 % | ||
R1 | 6.09 | 0.329 % | ||
Current price | 6.07 | |||
Support | S1 | 6.00 | -1.15% | |
S2 | 5.85 | -3.62% | ||
S3 | 5.84 | -3.79% |
GASS Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 19, 2009 | Feb 26, 2009 | Mar 09, 2009 | $0.188 | 4.50% |
2 | Nov 13, 2008 | Nov 20, 2008 | Dec 01, 2008 | $0.188 | 4.92% |
3 | Aug 19, 2008 | Aug 27, 2008 | Sep 05, 2008 | $0.188 | 1.20% |
4 | May 27, 2008 | Jun 04, 2008 | Jun 13, 2008 | $0.188 | 1.24% |
5 | Feb 27, 2008 | Feb 27, 2008 | Feb 27, 2008 | $0.188 | 1.19% |
FAQ
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