Gulf Investment Fund plc Trust Forecast
Red day on Tuesday for Gulf Investment Fund plc trust after losing 2.53%
(Updated on Jul 02, 2024)
The Gulf Investment Fund plc trust price fell by -2.53% on the last day (Tuesday, 2nd Jul 2024) from £2.34 to £2.28. During the last trading day the trust fluctuated 0% from a day low at £2.28 to a day high of £2.28. The price has fallen in 5 of the last 10 days and is down by -1.69% for this period. Volume has increased on the last day by 2 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, 2 thousand shares were bought and sold for approximately £5.66 thousand.
The trust lies in the middle of a narrow and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the trust is expected to fall -5.67% during the next 3 months and, with a 90% probability hold a price between £2.11 and £2.20 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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GIF.L Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 26, 2024, and so far it has risen 0.0351%. 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 Gulf Investment Fund plc trust 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 £2.31 and £2.35. A break-up above any of these levels will issue buy signals. Gulf Investment Fund 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". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Wednesday, June 26, 2024 and based on theory for this formation the price should go up by 6.98% to £2.44 within 4 trading days since signal was issued (Tuesday, July 02, 2024).
Support, Risk & Stop-loss for Gulf Investment Fund plc trust
Gulf Investment Fund plc finds support from accumulated volume at £2.28 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the trust tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the trust moved £0 between high and low, or 0%. For the last week the trust has had daily average volatility of 1.23%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GIF.L) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Gulf Investment Fund plc to open at £2.28, and during the day (based on 14 day Average True Range), to move between £2.22 and £2.35, which gives a possible trading interval of +/-£0.0657 (+/-2.88%) up or down from last closing price. If Gulf Investment Fund plc takes out the full calculated possible swing range there will be an estimated 5.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £2.28 (0.04%) than the resistance at £2.32 (1.72%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Gulf Investment Fund plc trust A Buy?
Gulf Investment Fund plc holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this trust.
Current score: -3.765 Sell Candidate Unchanged
Predicted Opening Price for Gulf Investment Fund plc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| £2.28 ( 0%) | £2.28 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GIF.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.28 | - |
| R2 | 2.28 | - |
| R1 | 2.28 | - |
| Price | 2.28 | |
| S1 | 2.28 | - |
| S2 | 2.28 | - |
| S3 | 2.28 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.40 | 5.23% |
| R2 | 2.34 | 2.38% |
| R1 | 2.32 | 1.72% |
| Price | 2.28 | |
| S1 | 2.28 | -0.0351% |
| S2 | 0 | - |
| S3 | 0 | - |
GIF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 15, 2024 | Feb 15, 2024 | Mar 22, 2024 | £0.0405 | 1.56% |
| 2 | Sep 14, 2023 | Sep 14, 2023 | Sep 14, 2023 | £0.0405 | 1.74% |
| 3 | Feb 02, 2023 | Feb 09, 2023 | Mar 17, 2023 | £0.0351 | 1.84% |
| 4 | Sep 01, 2022 | Sep 08, 2022 | Oct 21, 2022 | £0.0351 | 1.66% |
| 5 | Jan 06, 2022 | Jan 13, 2022 | Mar 11, 2022 | £0.0247 | 1.11% |
FAQ
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