Global Ship Lease Inc Stock Forecast
Stronger technical forecast for Global Ship Lease Inc stock price after Wednesday trading.
(Updated on May 01, 2024)
The Global Ship Lease Inc stock price gained 0.395% on the last trading day (Wednesday, 1st May 2024), rising from $22.76 to $22.85. During the last trading day the stock fluctuated 2.82% from a day low at $22.33 to a day high of $22.96. The price has risen in 8 of the last 10 days and is up by 7.63% 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, 52 thousand more shares were traded than the day before. In total, 375 thousand shares were bought and sold for approximately $8.58 million.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $23.06 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 10.53% during the next 3 months and, with a 90% probability hold a price between $22.42 and $25.49 at the end of this 3-month period.
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GSL Signals & Forecast
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 $22.66 and $21.07. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -0.609%. 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).
Support, Risk & Stop-loss for Global Ship Lease Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $19.82 and $18.96. 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, Global Ship Lease Inc finds support just below today's level at $19.82. If this is broken, then the next support from accumulated volume will be at $18.96 and $18.81.
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 $0.630 between high and low, or 2.82%. For the last week, the stock has had daily average volatility of 2.12%.
Our recommended stop-loss: $21.97 (-3.84%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (GSL) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Global Ship Lease Inc to open at $22.71, and during the day (based on 14 day Average True Range), to move between $22.38 and $23.32, which gives a possible trading interval of +/-$0.469 (+/-2.05%) 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 4.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $22.99 (0.61%) than the support at $19.82 (13.26%), 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.
Earnings coming up
Global Ship Lease Inc will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.34. We will update the financials statements for Global Ship Lease Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.84% in the first trading day after earnings release.
Is Global Ship Lease Inc 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 Global Ship Lease Inc 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: 1.748 Buy Candidate Upgraded
Predicted Opening Price for Global Ship Lease Inc of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $22.71 ( 0.598%) | $22.85 |
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 | 23.34 | 2.16 % | |
| R2 | 23.10 | 1.11 % | ||
| R1 | 22.95 | 0.455 % | ||
| Current price: | 22.85 | |||
| Support | S1 | 22.47 | -1.65 % | |
| S2 | 22.32 | -2.30 % | ||
| S3 | 22.08 | -3.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 22.99 | 0.613 % | ||
| Current price | 22.85 | |||
| Support | S1 | 19.82 | -13.26% | |
| S2 | 18.96 | -17.02% | ||
| S3 | 18.81 | -17.68% |
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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