Clough Global Allocation Fund Stock Forecast

Red day on Monday for Clough Global Allocation Fund stock after losing 0%
(Updated on Apr 15, 2024)

GLV.L Signals & Forecast

The Clough Global Allocation Fund stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £1.26 and £1.24. A breakdown below any of these levels will issue sell signals. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". The very low volume increases the risk and reduces the other technical signals issued. 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 Friday, April 12, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Clough Global Allocation Fund stock

Clough Global Allocation Fund finds support from accumulated volume at £1.25 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved £0.0190 between high and low, or 1.49%. For the last week the stock has had daily average volatility of 1.80%.

Our recommended stop-loss: £1.23 (-3.72%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (GLV.L) For The Upcoming Trading Day Of Tuesday 16th

For the upcoming trading day on Tuesday, 16th we expect Clough Global Allocation Fund to open at £1.28, and during the day (based on 14 day Average True Range), to move between £1.25 and £1.30, which gives a possible trading interval of +/-£0.0251 (+/-1.97%) 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 3.94% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ £1.25, some £0.0250 (1.96%) from the current price of £1.28, our system finds the risk reward attractive.

Is Clough Global Allocation Fund stock A Buy?

Clough Global Allocation Fund holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.383 Hold/Accumulate Unchanged

Predicted Opening Price for Clough Global Allocation Fund of Tuesday, April 16, 2024

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