Gabelli Convertible and Income Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Gabelli Convertible and Income stock price ended at $3.65 on Tuesday, after losing 0.548%.
(Updated on Jul 02, 2024)
The Gabelli Convertible and Income stock price fell by -0.548% on the last day (Tuesday, 2nd Jul 2024) from $3.67 to $3.65. During the last trading day the stock fluctuated 1.36% from a day low at $3.62 to a day high of $3.67. The price has risen in 7 of the last 10 days and is up by 2.81% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -32 thousand shares and in total, 5 thousand shares were bought and sold for approximately $19.99 thousand.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.09% during the next 3 months and, with a 90% probability hold a price between $3.55 and $3.86 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GCV Signals & Forecast
The Gabelli Convertible and Income 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 $3.62 and $3.63. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 3.99%. 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. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Thursday, June 27, 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 Thursday, June 27, 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 Convertible and Income stock
Gabelli Convertible and Income finds support from accumulated volume at $3.64 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0492 between high and low, or 1.36%. For the last week the stock has had daily average volatility of 1.68%
Our recommended stop-loss: $3.47 (-5.00%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (GCV) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Gabelli Convertible and Income Securities Fund Inc (The) to open at $3.65, and during the day (based on 14 day Average True Range), to move between $3.58 and $3.72, which gives a possible trading interval of +/-$0.0694 (+/-1.90%) up or down from last closing price. If Gabelli Convertible and Income Securities Fund Inc (The) takes out the full calculated possible swing range there will be an estimated 3.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $3.65 (0.00%) than the support at $3.64 (0.27%), 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 Gabelli Convertible and Income Securities Fund Inc (The) stock A Buy?
Gabelli Convertible and Income holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.380 Hold/Accumulate Unchanged
Predicted Opening Price for Gabelli Convertible and Income Securities Fund Inc (The) of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $3.65 ( 0.0968%) | $3.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GCV
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.70 | 1.25% |
| R2 | 3.68 | 0.736% |
| R1 | 3.67 | 0.418% |
| Price | 3.65 | |
| S1 | 3.63 | -0.612% |
| S2 | 3.62 | -0.93% |
| S3 | 3.60 | -1.44% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3.69 | 1.10% |
| R2 | 3.67 | 0.551% |
| R1 | 3.65 | 0.0027% |
| Price | 3.65 | |
| S1 | 3.64 | -0.271% |
| S2 | 3.63 | -0.545% |
| S3 | 3.53 | -3.29% |
GCV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 13, 2024 | Jun 13, 2024 | Jun 21, 2024 | $0.120 | 3.40% |
| 2 | Mar 13, 2024 | Mar 13, 2024 | Mar 21, 2024 | $0.120 | 3.22% |
| 3 | Nov 16, 2023 | Dec 14, 2023 | Dec 22, 2023 | $0.120 | 3.34% |
| 4 | Aug 25, 2023 | Sep 14, 2023 | Sep 22, 2023 | $0.120 | 3.23% |
| 5 | May 18, 2023 | Jun 14, 2023 | Jun 23, 2023 | $0.120 | 2.73% |
FAQ
Click here for our free guide on how to buy Gabelli Convertible and Income Securities Fund Inc (The) Stock.
