ClearBridge Energy MLP Total Return Fund Stock Forecast

ClearBridge Energy MLP Total Return Fund stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 21, 2024)

CTR Signals & Forecast

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. The ClearBridge Energy MLP Total Return Fund stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $41.86 and $42.33. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -7.81%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for ClearBridge Energy MLP Total Return Fund stock

ClearBridge Energy MLP Total Return Fund finds support from accumulated volume at $40.45 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $1.03 between high and low, or 2.57%. For the last week the stock has had daily average volatility of 3.09%

Our recommended stop-loss: $37.98 (-6.42%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 46 days ago.)

Trading Expectations (CTR) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect ClearBridge Energy MLP Total Return Fund Inc to open at $40.61, and during the day (based on 14 day Average True Range), to move between $39.73 and $41.45, which gives a possible trading interval of +/-$0.86 (+/-2.13%) up or down from last closing price. If ClearBridge Energy MLP Total Return Fund Inc takes out the full calculated possible swing range there will be an estimated 4.26% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $40.45 (0.36%) than the resistance at $42.40 (4.46%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is ClearBridge Energy MLP Total Return Fund Inc stock A Buy?

ClearBridge Energy MLP Total Return Fund holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.472 Hold/Accumulate Upgraded

Predicted Opening Price for ClearBridge Energy MLP Total Return Fund Inc of Monday, June 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.