Guggenheim Strategic Opportunities Fund Stock Forecast
Guggenheim Strategic Opportunities Fund stock upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on Apr 15, 2024)
The Guggenheim Strategic Opportunities Fund stock price fell by -1.63% on the last day (Monday, 15th Apr 2024) from $14.08 to $13.85. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 2.03% from a day low at $13.81 to a day high of $14.09. The price has been going up and down for this period, and there has been a -2.81% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -117 thousand shares and in total, 873 thousand shares were bought and sold for approximately $12.09 million.
Given the current short-term trend, the stock is expected to rise 9.26% during the next 3 months and, with a 90% probability hold a price between $15.13 and $16.79 at the end of this 3-month period.
GOF Signals & Forecast
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 Guggenheim Strategic Opportunities Fund stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $14.45 and $14.38. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -7.05%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Guggenheim Strategic Opportunities Fund stock
Guggenheim Strategic Opportunities Fund finds support from accumulated volume at $13.76 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 $0.280 between high and low, or 2.03%. For the last week the stock has had daily average volatility of 1.82%.
Our recommended stop-loss: $13.23 (-4.44%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (GOF) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Guggenheim Strategic Opportunities Fund to open at $13.92, and during the day (based on 14 day Average True Range), to move between $13.59 and $14.11, which gives a possible trading interval of +/-$0.260 (+/-1.88%) up or down from last closing price. If Guggenheim Strategic Opportunities Fund takes out the full calculated possible swing range there will be an estimated 3.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.87 (0.14%) than the support at $13.76 (0.65%), 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 Guggenheim Strategic Opportunities Fund stock A Buy?
Guggenheim Strategic Opportunities 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.594 Hold/Accumulate Upgraded
Predicted Opening Price for Guggenheim Strategic Opportunities Fund of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $13.92 ( 0.481%) | $13.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GOF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.20 | 2.50 % | |
| R2 | 14.09 | 1.73 % | ||
| R1 | 14.02 | 1.25 % | ||
| Current price: | 13.85 | |||
| Support | S1 | 13.81 | -0.291 % | |
| S2 | 13.74 | -0.768 % | ||
| S3 | 13.64 | -1.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.50 | 4.69 % | |
| R2 | 14.08 | 1.66 % | ||
| R1 | 13.87 | 0.144 % | ||
| Current price | 13.85 | |||
| Support | S1 | 13.76 | -0.650% | |
| S2 | 13.69 | -1.16% | ||
| S3 | 13.23 | -4.48% |
GOF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 12, 2024 | Apr 30, 2024 | $0.182 | 1.32% |
| 2 | Mar 01, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.182 | 1.27% |
| 3 | Feb 01, 2024 | Feb 14, 2024 | Feb 29, 2024 | $0.182 | 1.27% |
| 4 | Jan 02, 2024 | Jan 11, 2024 | Jan 31, 2024 | $0.182 | 1.34% |
| 5 | Dec 01, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.182 | 1.42% |
FAQ
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