Guggenheim Enhanced Equity Income Fund. Stock Forecast
Guggenheim Enhanced Equity Income Fund. stock upgraded to Buy Candidate.
(Updated on May 02, 2024)
No changes to the price of Guggenheim Enhanced Equity Income Fund. stock on the last trading day (Thursday, 2nd May 2024). During the last trading day the stock fluctuated 2.35% from a day low at £31.76 to a day high of £32.50. The price has been going up and down for this period, and there has been a -2.99% loss for the last 2 weeks.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at £31.68 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 38.59% during the next 3 months and, with a 90% probability hold a price between £43.90 and £53.67 at the end of this 3-month period.
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GPM.L Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -10.34%. 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 during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days. The Guggenheim Enhanced Equity Income Fund. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £32.50 and £32.14. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Guggenheim Enhanced Equity Income Fund. stock
On the downside, the stock finds support just below today's level from accumulated volume at £30.75 and £30.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Guggenheim Enhanced Equity Income Fund. finds support just below today's level at £30.75. If this is broken, then the next support from accumulated volume will be at £30.00 and £25.50.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £0.745 between high and low, or 2.35%. For the last week, the stock has had daily average volatility of 5.06%.
Our recommended stop-loss: £30.66 (-5.66%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (GPM.L) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Guggenheim Enhanced Equity Income Fund. to open at £32.25, and during the day (based on 14 day Average True Range), to move between £30.85 and £34.15, which gives a possible trading interval of +/-£1.65 (+/-5.06%) up or down from last closing price. If Guggenheim Enhanced Equity Income Fund. takes out the full calculated possible swing range there will be an estimated 10.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £33.50 (3.08%) than the support at £30.75 (5.38%), 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 Enhanced Equity Income Fund. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Guggenheim Enhanced Equity Income Fund. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.379 Buy Candidate Upgraded
Predicted Opening Price for Guggenheim Enhanced Equity Income Fund. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| £32.25 ( 0.764%) | £32.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GPM.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.00 | 1.53 % | |
| R2 | 32.71 | 0.653 % | ||
| R1 | 32.54 | 0.112 % | ||
| Current price: | 32.50 | |||
| Support | S1 | 31.97 | -1.64 % | |
| S2 | 31.79 | -2.18 % | ||
| S3 | 31.51 | -3.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.00 | 7.69 % | |
| R2 | 34.25 | 5.38 % | ||
| R1 | 33.50 | 3.08 % | ||
| Current price | 32.50 | |||
| Support | S1 | 30.75 | -5.38% | |
| S2 | 30.00 | -7.69% | ||
| S3 | 25.50 | -21.54% |
FAQ
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