Guggenheim Build America Bonds Managed Stock Forecast
Weaker technical forecast for Guggenheim Build America Bonds Managed as stock downgraded to Hold/Accumulate.
(Updated on Mar 18, 2024)
The Guggenheim Build America Bonds Managed stock price fell by -1.51% on the last day (Monday, 18th Mar 2024) from $16.60 to $16.35. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 2.38% from a day low at $16.35 to a day high of $16.74. The price has been going up and down for this period, and there has been a -0.49% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 thousand shares and in total, 46 thousand shares were bought and sold for approximately $744.09 thousand.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Guggenheim Build America Bonds Managed stock with a 90% probability to be traded between $16.23 and $17.26 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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GBAB Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Guggenheim Build America Bonds Managed stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $16.80 and $16.55. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -4.44%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Guggenheim Build America Bonds Managed stock
Guggenheim Build America Bonds Managed finds support from accumulated volume at $16.26 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.390 between high and low, or 2.38%. For the last week the stock has had daily average volatility of 1.54%.
Our recommended stop-loss: $15.48 (-5.32%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (GBAB) For The Upcoming Trading Day Of Tuesday 19th
For the upcoming trading day on Tuesday, 19th we expect Guggenheim Build America Bonds Managed Duration Trust to open at $16.48, and during the day (based on 14 day Average True Range), to move between $16.11 and $16.59, which gives a possible trading interval of +/-$0.245 (+/-1.50%) up or down from last closing price. If Guggenheim Build America Bonds Managed Duration Trust takes out the full calculated possible swing range there will be an estimated 2.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.26 (0.55%) than the resistance at $16.57 (1.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Guggenheim Build America Bonds Managed Duration Trust stock A Buy?
Guggenheim Build America Bonds Managed holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.816 Hold/Accumulate Downgraded
Predicted Opening Price for Guggenheim Build America Bonds Managed Duration Trust of Tuesday, March 19, 2024
Fair opening price March 19, 2024 | Current price |
---|---|
$16.48 ( 0.795%) | $16.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GBAB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 16.87 | 3.18 % | |
R2 | 16.72 | 2.27 % | ||
R1 | 16.63 | 1.71 % | ||
Current price: | 16.35 | |||
Support | S1 | 16.33 | -0.116 % | |
S2 | 16.24 | -0.679 % | ||
S3 | 16.09 | -1.59 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 16.69 | 2.08 % | |
R2 | 16.60 | 1.53 % | ||
R1 | 16.57 | 1.35 % | ||
Current price | 16.35 | |||
Support | S1 | 16.26 | -0.550% | |
S2 | 16.18 | -1.04% | ||
S3 | 16.15 | -1.22% |
GBAB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 14, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.126 | 0.769% |
2 | Feb 01, 2024 | Feb 14, 2024 | Feb 29, 2024 | $0.126 | 0.779% |
3 | Jan 02, 2024 | Jan 11, 2024 | Jan 31, 2024 | $0.126 | 0.751% |
4 | Dec 01, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.126 | 0.777% |
5 | Nov 01, 2023 | Nov 14, 2023 | Nov 30, 2023 | $0.126 | 0.81% |
FAQ
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