Clough Global Allocation Fund Stock Forecast
Clough Global Allocation Fund stock price ended at $5.47 on Monday, after gaining 0.275%.
(Updated on May 06, 2024)
The Clough Global Allocation Fund stock price gained 0.275% on the last trading day (Monday, 6th May 2024), rising from $5.46 to $5.47. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.92% from a day low at $5.46 to a day high of $5.51. The price has risen in 8 of the last 10 days and is up by 2.24% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 14 thousand more shares were traded than the day before. In total, 133 thousand shares were bought and sold for approximately $725.23 thousand.
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 Clough Global Allocation Fund stock with a 90% probability to be traded between $5.25 and $5.47 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. 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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GLV Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 2.24%. 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). Clough Global Allocation Fund has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Clough Global Allocation 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 $5.48. On a fall, the stock will find some support from the short-term average at $5.41. 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.
Support, Risk & Stop-loss for Clough Global Allocation Fund stock
Clough Global Allocation Fund finds support from accumulated volume at $5.44 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 $0.0500 between high and low, or 0.92%. For the last week the stock has had daily average volatility of 1.30%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GLV) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Clough Global Allocation Fund to open at $5.48, and during the day (based on 14 day Average True Range), to move between $5.41 and $5.53, which gives a possible trading interval of +/-$0.0571 (+/-1.04%) up or down from last closing price. If Clough Global Allocation Fund takes out the full calculated possible swing range there will be an estimated 2.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.44 (0.55%) than the resistance at $5.53 (1.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Clough Global Allocation Fund stock A Buy?
Clough Global Allocation 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.
Current score: -3.072 Sell Candidate Unchanged
Predicted Opening Price for Clough Global Allocation Fund of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $5.48 ( 0.183%) | $5.47 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.53 | 1.10 % | |
| R2 | 5.51 | 0.748 % | ||
| R1 | 5.50 | 0.532 % | ||
| Current price: | 5.47 | |||
| Support | S1 | 5.46 | -0.166 % | |
| S2 | 5.45 | -0.382 % | ||
| S3 | 5.43 | -0.731 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.56 | 1.65 % | |
| R2 | 5.56 | 1.55 % | ||
| R1 | 5.53 | 1.10 % | ||
| Current price | 5.47 | |||
| Support | S1 | 5.44 | -0.548% | |
| S2 | 5.38 | -1.65% | ||
| S3 | 5.37 | -1.92% |
GLV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 17, 2024 | Jun 17, 2024 | Jun 28, 2024 | $0.0526 | 0.96% |
| 2 | Apr 05, 2024 | May 16, 2024 | May 31, 2024 | $0.0526 | 0.96% |
| 3 | Apr 05, 2024 | Apr 18, 2024 | Apr 30, 2024 | $0.0526 | 0.98% |
| 4 | Jan 08, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.0526 | 0.94% |
| 5 | Feb 15, 2024 | Feb 15, 2024 | Feb 29, 2024 | $0.0526 | 0.95% |
FAQ
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