Global Ship Lease Inc Stock Forecast
Red day on Thursday for Global Ship Lease Inc stock after losing 0.141%
(Updated on Apr 18, 2024)
The Global Ship Lease Inc stock price fell by -0.141% on the last day (Thursday, 18th Apr 2024) from $21.23 to $21.20. During the last trading day the stock fluctuated 1.47% from a day low at $21.13 to a day high of $21.44. The price has risen in 6 of the last 10 days and is up by 0.66% over the past 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 -20 thousand shares and in total, 306 thousand shares were bought and sold for approximately $6.49 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $21.63 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Global Ship Lease Inc stock with a 90% probability to be traded between $18.70 and $21.55 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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GSL Signals & Forecast
The Global Ship Lease Inc 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 $21.38. On a fall, the stock will find some support from the long-term average at approximately $20.39. 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 Thursday, April 11, 2024, and so far it has fallen -2.03%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Global Ship Lease Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $19.82 and $18.96. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Global Ship Lease Inc finds support just below today's level at $19.82. If this is broken, then the next support from accumulated volume will be at $18.96 and $18.81.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.310 between high and low, or 1.47%. For the last week, the stock has had daily average volatility of 1.96%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GSL) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Global Ship Lease Inc to open at $21.26, and during the day (based on 14 day Average True Range), to move between $20.75 and $21.65, which gives a possible trading interval of +/-$0.446 (+/-2.10%) up or down from last closing price. If Global Ship Lease Inc takes out the full calculated possible swing range there will be an estimated 4.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $21.28 (0.38%) than the support at $19.82 (6.51%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Global Ship Lease Inc stock A Buy?
Global Ship Lease Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.136 Sell Candidate Unchanged
Predicted Opening Price for Global Ship Lease Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $21.26 ( 0.268%) | $21.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GSL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.57 | 1.73 % | |
| R2 | 21.45 | 1.17 % | ||
| R1 | 21.38 | 0.83 % | ||
| Current price: | 21.20 | |||
| Support | S1 | 21.14 | -0.291 % | |
| S2 | 21.07 | -0.635 % | ||
| S3 | 20.95 | -1.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.61 | 1.93 % | |
| R2 | 21.60 | 1.89 % | ||
| R1 | 21.28 | 0.377 % | ||
| Current price | 21.20 | |||
| Support | S1 | 19.82 | -6.51% | |
| S2 | 18.96 | -10.57% | ||
| S3 | 18.81 | -11.27% |
GSL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 12, 2024 | Feb 21, 2024 | Mar 06, 2024 | $0.375 | 1.89% |
| 2 | Nov 09, 2023 | Nov 22, 2023 | Dec 04, 2023 | $0.375 | 1.99% |
| 3 | Aug 03, 2023 | Aug 22, 2023 | Sep 04, 2023 | $0.375 | 1.94% |
| 4 | May 10, 2023 | May 23, 2023 | Jun 02, 2023 | $0.375 | 2.05% |
| 5 | Feb 09, 2023 | Feb 21, 2023 | Mar 06, 2023 | $0.375 | 1.82% |
FAQ
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