Gabelli Global Utility & Income Trust Stock Forecast

Green day on Thursday for Gabelli Global Utility & Income Trust
(Updated on Apr 18, 2024)

GLU Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.20%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Gabelli Global Utility & Income Trust stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $13.64 and $13.90. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The stock had a Golden Star Signal on Wednesday, February 28, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Gabelli Global Utility & Income Trust stock

Gabelli Global Utility & Income Trust finds support from accumulated volume at $13.44 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 $0.740 between high and low, or 5.52%. For the last week the stock has had daily average volatility of 4.97%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (GLU) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Gabelli Global Utility & Income Trust to open at $13.69, and during the day (based on 14 day Average True Range), to move between $13.13 and $13.89, which gives a possible trading interval of +/-$0.385 (+/-2.85%) up or down from last closing price. If Gabelli Global Utility & Income Trust takes out the full calculated possible swing range there will be an estimated 5.69% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $13.44 (0.52%) than the resistance at $13.95 (3.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Gabelli Global Utility & Income Trust stock A Buy?

The Gabelli Global Utility & Income Trust stock holds several negative signals and despite the positive trend, we believe Gabelli Global Utility & Income Trust will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.355 Sell Candidate Unchanged

Predicted Opening Price for Gabelli Global Utility & Income Trust of Friday, April 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.