Gamco Natural Resources, Gold & Income Trust Forecast
Red day on Friday for Gamco Natural Resources, Gold & Income
(Updated on Jun 28, 2024)
The Gamco Natural Resources, Gold & Income trust price fell by -0.550% on the last day (Friday, 28th Jun 2024) from $21.82 to $21.70. During the last trading day the trust fluctuated 0.0461% from a day low at $21.69 to a day high of $21.70. The price has fallen in 5 of the last 10 days and is down by -1.81% for this period. Volume fell on the last day along with the trust, which is actually a good sign as volume should follow the trust. On the last day, the trading volume fell by -1 thousand shares and in total, 2 thousand shares were bought and sold for approximately $40.97 thousand.
The trust 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 $21.62 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Gamco Natural Resources, Gold & Income trust with a 90% probability to be traded between $21.83 and $22.58 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 trusts seldom manage to go directly from the bottom of a trend up to the top. Trusts turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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GNT-PA Signals & Forecast
There are few to no technical positive signals at the moment. The Gamco Natural Resources, Gold & Income 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 $21.81 and $21.86. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -2.38%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this trust 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.
Support, Risk & Stop-loss for Gamco Natural Resources, Gold & Income trust
Gamco Natural Resources, Gold & Income finds support from accumulated volume at $21.59 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 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 trust During the last day, the trust moved $0.0100 between high and low, or 0.0461%. For the last week the trust has had daily average volatility of 0.0895%
Gamco Natural Resources, Gold & Income is oversold on RSI14 (29). Some trusts may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GNT-PA) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Gamco Natural Resources, Gold & Income Trust to open at $21.70, and during the day (based on 14 day Average True Range), to move between $21.56 and $21.84, which gives a possible trading interval of +/-$0.138 (+/-0.64%) up or down from last closing price. If Gamco Natural Resources, Gold & Income Trust takes out the full calculated possible swing range there will be an estimated 1.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.59 (0.51%) than the resistance at $21.82 (0.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Gamco Natural Resources, Gold & Income Trust trust A Buy?
Gamco Natural Resources, Gold & Income 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: -2.264 Sell Candidate Unchanged
Predicted Opening Price for Gamco Natural Resources, Gold & Income Trust of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $21.70 ( 0.0154%) | $21.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GNT-PA
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 21.71 | 0.0307% |
| R2 | 21.70 | 0.0131% |
| R1 | 21.70 | 0.0022% |
| Price | 21.70 | |
| S1 | 21.69 | -0.0330% |
| S2 | 21.69 | -0.0438% |
| S3 | 21.69 | -0.0614% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.10 | 1.84% |
| R2 | 21.90 | 0.92% |
| R1 | 21.82 | 0.553% |
| Price | 21.70 | |
| S1 | 21.59 | -0.507% |
| S2 | 21.56 | -0.642% |
| S3 | 21.41 | -1.34% |
GNT-PA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 18, 2024 | Mar 18, 2024 | Mar 26, 2024 | $0.325 | 1.44% |
| 2 | Dec 15, 2023 | Dec 15, 2023 | Dec 26, 2023 | $0.325 | 1.44% |
| 3 | Sep 18, 2023 | Sep 18, 2023 | Sep 26, 2023 | $0.325 | 1.47% |
| 4 | Jun 15, 2023 | Jun 15, 2023 | Jun 26, 2023 | $0.325 | 1.41% |
| 5 | Mar 17, 2023 | Mar 17, 2023 | Mar 27, 2023 | $0.325 | 1.45% |
FAQ
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