Global Indemnity plc Stock Forecast
Global Indemnity plc stock upgraded to Buy Candidate.
(Updated on Apr 25, 2024)
The Global Indemnity plc stock price gained 0.0638% on the last trading day (Thursday, 25th Apr 2024), rising from $31.36 to $31.38. During the last trading day the stock fluctuated 0.335% from a day low at $31.38 to a day high of $31.49. The price has been going up and down for this period, and there has been a -4.68% loss for the last 2 weeks. Volume fell on the last day by -222 shares and in total, 207 shares were bought and sold for approximately $6.50 thousand. 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.
The stock lies in the middle of a wide and strong 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 11.37% during the next 3 months and, with a 90% probability hold a price between $33.54 and $37.61 at the end of this 3-month period.
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GBLI Signals & Forecast
The Global Indemnity plc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $32.18. On a fall, the stock will find some support from the long-term average at approximately $30.74. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -5.20%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Global Indemnity plc stock
Global Indemnity plc finds support from accumulated volume at $30.53 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.105 between high and low, or 0.335%. For the last week the stock has had daily average volatility of 0.411%.
Our recommended stop-loss: $30.11 (-4.05%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (GBLI) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Global Indemnity plc to open at $31.42, and during the day (based on 14 day Average True Range), to move between $30.79 and $31.97, which gives a possible trading interval of +/-$0.589 (+/-1.88%) up or down from last closing price. If Global Indemnity plc takes out the full calculated possible swing range there will be an estimated 3.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $30.53 (2.71%) than the resistance at $32.50 (3.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Global Indemnity plc 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 Indemnity plc 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: 3.948 Buy Candidate Upgraded
Predicted Opening Price for Global Indemnity plc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $31.42 ( 0.112%) | $31.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GBLI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.52 | 0.446 % | |
| R2 | 31.48 | 0.318 % | ||
| R1 | 31.46 | 0.239 % | ||
| Current price: | 31.38 | |||
| Support | S1 | 31.37 | -0.0163 % | |
| S2 | 31.35 | -0.0953 % | ||
| S3 | 31.31 | -0.223 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.10 | 5.48 % | |
| R2 | 32.99 | 5.13 % | ||
| R1 | 32.50 | 3.57 % | ||
| Current price | 31.38 | |||
| Support | S1 | 30.53 | -2.71% | |
| S2 | 29.36 | -6.43% | ||
| S3 | 29.00 | -7.58% |
GBLI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 20, 2024 | Mar 20, 2024 | Mar 28, 2024 | $0.350 | 1.15% |
| 2 | Dec 07, 2023 | Dec 21, 2023 | Dec 29, 2023 | $0.250 | 0.775% |
| 3 | Sep 28, 2023 | Oct 05, 2023 | Oct 16, 2023 | $0.250 | 0.704% |
| 4 | Jun 01, 2023 | Jun 22, 2023 | Jun 30, 2023 | $0.250 | 0.744% |
| 5 | Mar 02, 2023 | Mar 23, 2023 | Mar 31, 2023 | $0.250 | 0.89% |
FAQ
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