GLU AMEX
Gabelli Global Utility and Income Closed Fund
SELL
Close
16.67
Prev.Close
16.73
Change
-0.0600
Change%
-0.36%
BEARISH MEETING LINE
Sold at
16.68
Open
16.79
High
16.94
Low
16.66
Close
16.67
Gain%
-0.06%
Signal History
Pattern & Confirmation Chart for the Last 6 Months
Signal Update
Today's recommendation from our system is to SELL. The BEARISH MEETING LINE pattern has finally received confirmation because the prices crossed below the confirmation level at 16.73, and our valid average selling price now stands at 16.68. The previous BUY signal was issued on 05/30/2025, 4 days ago, when the stock price was 16.71. Since then, GLU has fallen by -0.18%.
Market Outlook
We may be at a market top or at the beginning of a correction. The market has lost momentum, and traders are now more aligned in their bearish outlook. The compelling evidence suggests it's prudent to consider closing long positions. Today’s candlestick has a black body and its close is below the confirmation level. The bearish pattern that was previously identified is finally confirmed and a <SELL signal is generated. You still have time to act on the signal, and then you can begin evaluating other securities for a potential bullish bet.
Pattern Description
This pattern occurs during an uptrend. The first day’s white candlestick is followed by a black candlestick that opens sharply higher and closes at the same level as the prior session’s close. It is similar to the Dark Cloud Cover pattern; however, the amount the second day drops is different. The Dark Cloud Cover’s second day closes below the midpoint of the first day’s body, whereas the second day of the Bearish Meeting Line closes at the same level as the first day. Consequently, the Dark Cloud Cover is a more significant top reversal. Nonetheless, the Bearish Meeting Line should also be respected. more...
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