GAMCO Natural Resources, Gold & Income Trust (GNT) Draws Bearish Attention After Forming Wedge Down Chart Pattern

July 14, 2018 - By Marguerite Chambers

The stock of GAMCO Natural Resources, Gold & Income Trust (GNT) formed a down wedge with $5.81 target or 7.00 % below today’s $6.25 share price. The 7 months wedge indicates high risk for the $ company. If the $5.81 price target is reached, the company will be worth $ less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 0.48% or $0.03 during the last trading session, reaching $6.25. About 175,033 shares traded or 273.17% up from the average. GAMCO Natural Resources, Gold & Income Trust (NYSE:GNT) has 0.00% since July 14, 2017 and is . It has underperformed by 12.57% the S&P500.

GAMCO Natural Resources, Gold & Income Trust is a closed-ended equity mutual fund launched by GAMCO Investors, Inc. The company has market cap of $. The fund is managed by Gabelli Funds, LLC. It currently has negative earnings. It invests in public equity markets across the globe.

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