Global Ship Lease Inc Stock Forecast
Global Ship Lease Inc stock price ended at $22.32 on Tuesday, after gaining 1.87%.
(Updated on Apr 23, 2024)
The Global Ship Lease Inc stock price gained 1.87% on the last trading day (Tuesday, 23rd Apr 2024), rising from $21.91 to $22.32. It has now gained 3 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 2.95% from a day low at $21.95 to a day high of $22.60. The price has risen in 7 of the last 10 days and is up by 5.08% over the past 2 weeks. Volume fell on the last day by -144 thousand shares and in total, 603 thousand shares were bought and sold for approximately $13.45 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current horizontal trend, you can expect Global Ship Lease Inc stock with a 90% probability to be traded between $19.40 and $22.74 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.
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GSL Signals & Forecast
Mostly positive signals in the chart today. The Global Ship Lease Inc 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 $21.55 and $20.55. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 04, 2024, and so far it has risen 18.66%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Global Ship Lease Inc stock
Global Ship Lease Inc finds support from accumulated volume at $21.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.649 between high and low, or 2.95%. For the last week, the stock has had daily average volatility of 2.23%.
Our recommended stop-loss: $21.61 (-3.16%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 35 days ago.)
Trading Expectations (GSL) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Global Ship Lease Inc to open at $22.29, and during the day (based on 14 day Average True Range), to move between $21.85 and $22.79, which gives a possible trading interval of +/-$0.468 (+/-2.10%) up or down from last closing price. If Global Ship Lease Inc takes out the full calculated possible swing range there will be an estimated 4.19% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $21.60, some $0.720 (3.23%) from the current price of $22.32, our system finds the risk reward attractive.
Is Global Ship Lease Inc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Global Ship Lease Inc stock to perform well in the short-term period.
Current score: 4.015 Buy Candidate Unchanged
Predicted Opening Price for Global Ship Lease Inc of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $22.29 ( 0.136%) | $22.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GSL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.94 | 2.77 % | |
| R2 | 22.69 | 1.66 % | ||
| R1 | 22.54 | 0.97 % | ||
| Current price: | 22.32 | |||
| Support | S1 | 22.04 | -1.25 % | |
| S2 | 21.89 | -1.93 % | ||
| S3 | 21.64 | -3.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 22.32 | |||
| Support | S1 | 21.60 | -3.23% | |
| S2 | 18.96 | -15.05% | ||
| S3 | 18.81 | -15.73% |
GSL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 12, 2024 | Feb 21, 2024 | Mar 06, 2024 | $0.375 | 1.89% |
| 2 | Nov 09, 2023 | Nov 22, 2023 | Dec 04, 2023 | $0.375 | 1.99% |
| 3 | Aug 03, 2023 | Aug 22, 2023 | Sep 04, 2023 | $0.375 | 1.94% |
| 4 | May 10, 2023 | May 23, 2023 | Jun 02, 2023 | $0.375 | 2.05% |
| 5 | Feb 09, 2023 | Feb 21, 2023 | Mar 06, 2023 | $0.375 | 1.82% |
FAQ
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