Clough Global Allocation Fund Stock Forecast
Clough Global Allocation Fund stock price down 0% on Thursday
(Updated on Apr 25, 2024)
No changes to the price of Clough Global Allocation Fund stock on the last trading day (Thursday, 25th Apr 2024). During the last trading day the stock fluctuated 0.85% from a day low at $5.32 to a day high of $5.37. The price has fallen in 6 of the last 10 days and is down by -3.68% for this period.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $5.35 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Clough Global Allocation Fund stock with a 90% probability to be traded between $5.40 and $5.67 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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GLV Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 0.280%. 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 Clough Global Allocation Fund 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 $5.38 and $5.51. 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 on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".
A sell signal from a double top formation was found on Thursday, March 21, 2024 and based on theory for this formation the price should fall by -1.30% to $5.30 within 6 trading days since signal was issued (Friday, April 26, 2024).
Support, Risk & Stop-loss for Clough Global Allocation Fund stock
Clough Global Allocation Fund finds support from accumulated volume at $5.36 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 therefore the general risk is considered very 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 $0.0450 between high and low, or 0.85%. For the last week the stock has had daily average volatility of 0.786%
Our recommended stop-loss: $5.02 (-6.38%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (GLV) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Clough Global Allocation Fund to open at $5.35, and during the day (based on 14 day Average True Range), to move between $5.31 and $5.42, which gives a possible trading interval of +/-$0.0536 (+/-1.00%) up or down from last closing price. If Clough Global Allocation Fund takes out the full calculated possible swing range there will be an estimated 2.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.36 (0.09%) than the resistance at $5.44 (1.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Clough Global Allocation Fund stock A Buy?
Clough Global Allocation Fund 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.
Current score: -0.281 Hold/Accumulate Unchanged
Predicted Opening Price for Clough Global Allocation Fund of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $5.35 ( 0.280%) | $5.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GLV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.40 | 0.559 % | |
| R2 | 5.38 | 0.239 % | ||
| R1 | 5.37 | 0.0408 % | ||
| Current price: | 5.37 | |||
| Support | S1 | 5.33 | -0.600 % | |
| S2 | 5.32 | -0.798 % | ||
| S3 | 5.31 | -1.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.56 | 3.63 % | |
| R2 | 5.56 | 3.54 % | ||
| R1 | 5.44 | 1.40 % | ||
| Current price | 5.37 | |||
| Support | S1 | 5.36 | -0.0932% | |
| S2 | 5.35 | -0.280% | ||
| S3 | 5.34 | -0.447% |
GLV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 17, 2024 | Jun 17, 2024 | Jun 28, 2024 | $0.0526 | 0.98% |
| 2 | Apr 05, 2024 | May 16, 2024 | May 31, 2024 | $0.0526 | 0.98% |
| 3 | Apr 05, 2024 | Apr 18, 2024 | Apr 30, 2024 | $0.0526 | 0.98% |
| 4 | Jan 08, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.0526 | 0.94% |
| 5 | Feb 15, 2024 | Feb 15, 2024 | Feb 29, 2024 | $0.0526 | 0.95% |
FAQ
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