Aberdeen Global Income Fund Inc Stock Forecast
Weaker technical forecast for Aberdeen Global Income Fund Inc as stock downgraded to Hold/Accumulate.
(Updated on Apr 18, 2024)
No changes to the price of Aberdeen Global Income Fund Inc stock on the last trading day (Thursday, 18th Apr 2024). During the last trading day the stock fluctuated 2.01% from a day low at $5.44 to a day high of $5.55. The price has risen in 6 of the last 10 days and is up by 1.1% over the past 2 weeks.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.17% during the next 3 months and, with a 90% probability hold a price between $5.52 and $6.12 at the end of this 3-month period.
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FCO Signals & Forecast
The Aberdeen Global Income Fund Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $5.42 and $5.44. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 3.97%. 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 gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point".
Support, Risk & Stop-loss for Aberdeen Global Income Fund Inc stock
Aberdeen Global Income Fund Inc finds support from accumulated volume at $5.38 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 $0.110 between high and low, or 2.01%. For the last week the stock has had daily average volatility of 1.87%.
Our recommended stop-loss: $5.18 (-5.88%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (FCO) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Aberdeen Global Income Fund Inc to open at $5.50, and during the day (based on 14 day Average True Range), to move between $5.39 and $5.61, which gives a possible trading interval of +/-$0.113 (+/-2.05%) up or down from last closing price. If Aberdeen Global Income Fund Inc takes out the full calculated possible swing range there will be an estimated 4.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.58 (1.45%) than the support at $5.38 (2.18%), 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 Aberdeen Global Income Fund Inc stock A Buy?
Aberdeen Global Income Fund Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.905 Hold/Accumulate Downgraded
Predicted Opening Price for Aberdeen Global Income Fund Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $5.50 ( 0.0636%) | $5.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FCO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.61 | 1.93 % | |
| R2 | 5.56 | 1.17 % | ||
| R1 | 5.54 | 0.697 % | ||
| Current price: | 5.50 | |||
| Support | S1 | 5.45 | -0.82 % | |
| S2 | 5.43 | -1.29 % | ||
| S3 | 5.39 | -2.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.82 | 5.82 % | |
| R2 | 5.68 | 3.27 % | ||
| R1 | 5.58 | 1.45 % | ||
| Current price | 5.50 | |||
| Support | S1 | 5.38 | -2.18% | |
| S2 | 5.32 | -3.27% | ||
| S3 | 5.31 | -3.45% |
FCO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 22, 2024 | Apr 22, 2024 | Apr 30, 2024 | $0.0700 | 1.27% |
| 2 | Mar 20, 2024 | Mar 20, 2024 | Mar 28, 2024 | $0.0700 | 1.29% |
| 3 | Feb 09, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.0700 | 1.25% |
| 4 | Jan 10, 2024 | Jan 23, 2024 | Jan 31, 2024 | $0.0700 | 1.34% |
| 5 | Dec 11, 2023 | Dec 28, 2023 | Jan 10, 2024 | $0.0700 | 1.37% |
FAQ
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