Cornerstone Total Return Fund, Inc Stock Forecast
Green day on Tuesday for Cornerstone Total Return Fund, Inc stock after gaining 0.267%
(Updated on Apr 30, 2024)
The Cornerstone Total Return Fund, Inc stock price gained 0.267% on the last trading day (Tuesday, 30th Apr 2024), rising from $7.49 to $7.51. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.16% from a day low at $7.42 to a day high of $7.58. The price has risen in 8 of the last 10 days and is up by 5.48% 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, 57 thousand more shares were traded than the day before. In total, 748 thousand shares were bought and sold for approximately $5.62 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 4.69% during the next 3 months and, with a 90% probability hold a price between $7.52 and $8.26 at the end of this 3-month period.
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CRF Signals & Forecast
The Cornerstone Total Return Fund, Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $7.40 and $7.43. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 5.48%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Cornerstone Total Return Fund, Inc stock
Cornerstone Total Return Fund, Inc finds support from accumulated volume at $7.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.160 between high and low, or 2.16%. For the last week, the stock has had daily average volatility of 1.42%.
Our recommended stop-loss: $7.12 (-5.19%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (CRF) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Cornerstone Total Return Fund, Inc to open at $7.50, and during the day (based on 14 day Average True Range), to move between $7.39 and $7.63, which gives a possible trading interval of +/-$0.121 (+/-1.62%) up or down from last closing price. If Cornerstone Total Return Fund, Inc takes out the full calculated possible swing range there will be an estimated 3.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $7.60 (1.20%) than the support at $7.26 (3.33%), 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 Cornerstone Total Return Fund, Inc 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 Cornerstone Total Return Fund, Inc stock to perform well in the short-term.
Current score: 2.240 Buy Candidate Unchanged
Predicted Opening Price for Cornerstone Total Return Fund, Inc of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| $7.50 ( 0.0888%) | $7.51 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.66 | 2.04 % | |
| R2 | 7.60 | 1.23 % | ||
| R1 | 7.56 | 0.725 % | ||
| Current price: | 7.51 | |||
| Support | S1 | 7.44 | -0.90 % | |
| S2 | 7.40 | -1.41 % | ||
| S3 | 7.34 | -2.22 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.81 | 3.99 % | |
| R2 | 7.76 | 3.33 % | ||
| R1 | 7.60 | 1.20 % | ||
| Current price | 7.51 | |||
| Support | S1 | 7.26 | -3.33% | |
| S2 | 7.19 | -4.26% | ||
| S3 | 7.12 | -5.19% |
CRF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.104 | 1.38% |
| 2 | May 14, 2024 | May 14, 2024 | May 31, 2024 | $0.104 | 1.38% |
| 3 | Feb 12, 2024 | Apr 12, 2024 | Apr 30, 2024 | $0.104 | 1.38% |
| 4 | Mar 14, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.104 | 1.38% |
| 5 | Nov 03, 2023 | Feb 14, 2024 | Feb 29, 2024 | $0.104 | 1.43% |
FAQ
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