Global Indemnity plc Stock Forecast
Global Indemnity plc stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Jun 21, 2024)
The Global Indemnity plc stock price fell by -4.63% on the last day (Friday, 21st Jun 2024) from $31.98 to $30.50. During the last trading day the stock fluctuated 3.28% from a day low at $30.50 to a day high of $31.50. The price has risen in 6 of the last 10 days but is still down by -0.33% for this period. Volume has increased on the last day by 23 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, 25 thousand shares were bought and sold for approximately $755.58 thousand.
The stock has broken the weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $30.68. A reaction back to this level may hold a second chance to get out before further falls.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GBLI Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has fallen 0%. 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. The Global Indemnity plc 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 $31.29 and $31.56. A break-up above any of these levels will issue buy signals. Global Indemnity plc 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 Global Indemnity plc stock
Global Indemnity plc finds support from accumulated volume at $30.17 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 $1.00 between high and low, or 3.28%. For the last week the stock has had daily average volatility of 3.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GBLI) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Global Indemnity plc to open at $30.83, and during the day (based on 14 day Average True Range), to move between $29.55 and $31.45, which gives a possible trading interval of +/-$0.95 (+/-3.11%) up or down from last closing price. If Global Indemnity plc takes out the full calculated possible swing range there will be an estimated 6.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $30.53 (0.10%) than the support at $30.17 (1.08%), 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 Global Indemnity plc stock A Buy?
The Global Indemnity plc stock holds several negative signals and despite the positive trend, we believe Global Indemnity plc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.938 Sell Candidate Downgraded
Predicted Opening Price for Global Indemnity plc of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $30.83 ( 1.09%) | $30.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GBLI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.83 | 4.37% |
| R2 | 31.45 | 3.12% |
| R1 | 31.22 | 2.35% |
| Price | 30.50 | |
| S1 | 30.45 | -0.160% |
| S2 | 30.22 | -0.93% |
| S3 | 29.83 | -2.19% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 32.99 | 8.16% |
| R2 | 32.50 | 6.56% |
| R1 | 30.53 | 0.0984% |
| Price | 30.50 | |
| S1 | 30.17 | -1.08% |
| S2 | 29.01 | -4.89% |
| S3 | 29.00 | -4.92% |
GBLI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 21, 2024 | Jun 21, 2024 | Jun 28, 2024 | $0.350 | 1.15% |
| 2 | Mar 20, 2024 | Mar 20, 2024 | Mar 28, 2024 | $0.350 | 1.15% |
| 3 | Dec 07, 2023 | Dec 21, 2023 | Dec 29, 2023 | $0.250 | 0.775% |
| 4 | Sep 28, 2023 | Oct 05, 2023 | Oct 16, 2023 | $0.250 | 0.704% |
| 5 | Jun 01, 2023 | Jun 22, 2023 | Jun 30, 2023 | $0.250 | 0.744% |
FAQ
Click here for our free guide on how to buy Global Indemnity plc Stock.
