Tue 18'th Sep 2018
Gabelli Equity Trust Inc (The) Stock Analysis
Technical stock analysis for Tue 18'th Sep 2018
|Shorts||0.64% ( 2018-08-31 )|
Gabelli Equity Trust Inc (The) gained 0.46% in the last trading day, rising from $6.47 to $6.50 The price has risen in 4 of the last 10 days , but is still down by -0.61% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 54 691 more shares were traded than the day before. In total, 461 519 shares bought and sold for approximately $3.00 million.
Gabelli Equity Trust Inc (The) lies in the lower part of a narrow and weak rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $6.48 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 5.42% during the next 3 months and, with 90% probability hold a price between $6.83 and $7.06 at the end of this period.
There are mixed signals in the stock today. Gabelli Equity Trust Inc (The) holds sales signals from both short- and long-term moving averages. On corrections up there will be some resistance from the lines at $6.53 and $6.51. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Monday September 17, 2018, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
* Golden Star Signal* is when the short-term moving average, the long-term moving average, and priceline meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Relative Strength Index (RSI)
RSI14 is 36 and the stock is currently not being overbought or oversold
Support & Resistance
Gabelli Equity Trust Inc (The) finds support from accumulated volume at $6.39.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.07 (1.07%) between high and low. For the last week, the stock has had a daily average volatility of 0.69%.
Our recommended stoploss: $6.10 (-6.16%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 1 days ago.)
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Gabelli Equity Trust Inc (The) holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. We have upgraded our recommendation for this stock since last evaluation from a Sell Candidate to a Hold/Accumulate.Click for Top 5 Hold/Accumulates
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