The GDL Fund Stock Forecast
Red day on Thursday for The GDL Fund
(Updated on Apr 18, 2024)
The The GDL Fund stock price fell by -0.128% on the last day (Thursday, 18th Apr 2024) from $7.81 to $7.80. During the last trading day the stock fluctuated 0.442% from a day low at $7.80 to a day high of $7.83. The price has fallen in 4 of the last 10 days and is down by -0.51% for this period. Volume has increased on the last day by 376 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, 6 thousand shares were bought and sold for approximately $44.43 thousand.
The stock is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $7.77 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect The GDL Fund stock with a 90% probability to be traded between $7.73 and $7.94 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 stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GDL Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 0.395%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The The GDL Fund 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 $7.81 and $7.89. 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 GDL Fund 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for The GDL Fund stock
The GDL Fund finds support from accumulated volume at $7.77 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 $0.0345 between high and low, or 0.442%. For the last week the stock has had daily average volatility of 0.485%.
Our recommended stop-loss: $7.39 (-5.25%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (GDL) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect The GDL Fund to open at $7.81, and during the day (based on 14 day Average True Range), to move between $7.75 and $7.85, which gives a possible trading interval of +/-$0.0518 (+/-0.66%) up or down from last closing price. If The GDL Fund takes out the full calculated possible swing range there will be an estimated 1.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.82 (0.26%) than the support at $7.77 (0.39%), 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 The GDL Fund stock A Buy?
The GDL Fund holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.708 Hold/Accumulate Unchanged
Predicted Opening Price for The GDL Fund of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $7.81 ( 0.147%) | $7.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GDL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.85 | 0.590 % | |
| R2 | 7.83 | 0.421 % | ||
| R1 | 7.82 | 0.316 % | ||
| Current price: | 7.80 | |||
| Support | S1 | 7.80 | -0.0215 % | |
| S2 | 7.79 | -0.126 % | ||
| S3 | 7.78 | -0.295 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.90 | 1.28 % | |
| R2 | 7.87 | 0.90 % | ||
| R1 | 7.82 | 0.256 % | ||
| Current price | 7.80 | |||
| Support | S1 | 7.77 | -0.394% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
GDL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 13, 2024 | Mar 13, 2024 | Mar 21, 2024 | $0.120 | 1.50% |
| 2 | Nov 16, 2023 | Dec 14, 2023 | Dec 22, 2023 | $0.120 | 1.49% |
| 3 | Aug 25, 2023 | Sep 14, 2023 | Sep 22, 2023 | $0.120 | 1.55% |
| 4 | May 18, 2023 | Jun 14, 2023 | Jun 23, 2023 | $0.120 | 1.54% |
| 5 | Feb 17, 2023 | Mar 16, 2023 | Dec 14, 2018 | $0.120 | 1.34% |
FAQ
Click here for our free guide on how to buy The GDL Fund Stock.
