Gabelli Utility Trust (The) Stock Forecast
Gabelli Utility Trust (The) stock upgraded to Buy Candidate.
(Updated on Mar 28, 2024)
The Gabelli Utility Trust (The) stock price gained 1.09% on the last trading day (Thursday, 28th Mar 2024), rising from $5.49 to $5.55. During the last trading day the stock fluctuated 1.82% from a day low at $5.48 to a day high of $5.58. The price has risen in 6 of the last 10 days and is up by 0.73% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 62 thousand more shares were traded than the day before. In total, 189 thousand shares were bought and sold for approximately $1.05 million.
The stock lies in the middle of a weak 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 3.40% during the next 3 months and, with a 90% probability hold a price between $5.42 and $5.82 at the end of this 3-month period.
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GUT Signals & Forecast
The Gabelli Utility Trust (The) 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 $5.50 and $5.48. A breakdown below any of these levels will issue sell signals. Gabelli Utility Trust (The) has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Monday, March 11, 2024, and so far it has fallen -0.716%. 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 Gabelli Utility Trust (The) stock
Gabelli Utility Trust (The) finds support from accumulated volume at $5.51 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 $0.1000 between high and low, or 1.82%. For the last week the stock has had daily average volatility of 1.60%.
Our recommended stop-loss: $5.32 (-4.10%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (GUT) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Gabelli Utility Trust (The) to open at $5.54, and during the day (based on 14 day Average True Range), to move between $5.45 and $5.65, which gives a possible trading interval of +/-$0.0962 (+/-1.73%) up or down from last closing price. If Gabelli Utility Trust (The) takes out the full calculated possible swing range there will be an estimated 3.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.56 (0.18%) than the support at $5.51 (0.72%), 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 Gabelli Utility Trust (The) 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 Gabelli Utility Trust (The) 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: 2.333 Buy Candidate Upgraded
Predicted Opening Price for Gabelli Utility Trust (The) of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$5.54 ( 0.240%) | $5.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GUT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.64 | 1.56 % | |
R2 | 5.60 | 0.87 % | ||
R1 | 5.57 | 0.448 % | ||
Current price: | 5.55 | |||
Support | S1 | 5.50 | -0.93 % | |
S2 | 5.47 | -1.35 % | ||
S3 | 5.44 | -2.04 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5.59 | 0.721 % | |
R2 | 5.58 | 0.541 % | ||
R1 | 5.56 | 0.180 % | ||
Current price | 5.55 | |||
Support | S1 | 5.51 | -0.721% | |
S2 | 5.42 | -2.34% | ||
S3 | 5.40 | -2.70% |
GUT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 20, 2024 | Jun 13, 2024 | Jun 21, 2024 | $0.0500 | 0.90% |
2 | Feb 19, 2024 | May 15, 2024 | May 23, 2024 | $0.0500 | 0.90% |
3 | Feb 14, 2024 | Apr 15, 2024 | Apr 23, 2024 | $0.0500 | 0.90% |
4 | Nov 16, 2023 | Mar 13, 2024 | Mar 21, 2024 | $0.0500 | 0.90% |
5 | Nov 16, 2023 | Feb 13, 2024 | Feb 22, 2024 | $0.0500 | 0.89% |
FAQ
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