The GDL Fund Stock Forecast
The GDL Fund stock downgraded to Sell Candidate
(Updated on May 02, 2024)
No changes to the price of The GDL Fund stock on the last trading day (Thursday, 2nd May 2024). During the last trading day the stock fluctuated 0.128% from a day low at $7.81 to a day high of $7.82. The price has risen in 5 of the last 10 days and is up by 0.26% over the past 2 weeks.
The stock 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 GDL Fund stock with a 90% probability to be traded between $7.67 and $7.87 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.
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GDL Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 0.653%. 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 The GDL Fund stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $7.86. On a fall, the stock will find some support from the short-term average at $7.82. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". 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 $7.81 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 $0.0100 between high and low, or 0.128%. For the last week the stock has had daily average volatility of 0.282%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GDL) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect The GDL Fund to open at $7.82, and during the day (based on 14 day Average True Range), to move between $7.78 and $7.86, which gives a possible trading interval of +/-$0.0411 (+/-0.53%) up or down from last closing price. If The GDL Fund takes out the full calculated possible swing range there will be an estimated 1.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.83 (0.13%) than the support at $7.81 (0.13%), 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 we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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: -1.301 Sell Candidate Downgraded
Predicted Opening Price for The GDL Fund of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
$7.82 ( 0.0426%) | $7.82 |
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 | 7.83 | 0.0853 % | |
R2 | 7.82 | 0.0364 % | ||
R1 | 7.82 | 0.0062 % | ||
Current price: | 7.82 | |||
Support | S1 | 7.81 | -0.0915 % | |
S2 | 7.81 | -0.122 % | ||
S3 | 7.81 | -0.171 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.93 | 1.41 % | |
R2 | 7.87 | 0.639 % | ||
R1 | 7.83 | 0.128 % | ||
Current price | 7.82 | |||
Support | S1 | 7.81 | -0.128% | |
S2 | 7.80 | -0.256% | ||
S3 | 7.77 | -0.648% |
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
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