ClearBridge Energy MLP Total Return Fund Stock Forecast
Green day on Wednesday for ClearBridge Energy MLP Total Return Fund
(Updated on Mar 27, 2024)
The ClearBridge Energy MLP Total Return Fund stock price gained 0.638% on the last trading day (Wednesday, 27th Mar 2024), rising from $40.75 to $41.01. During the last trading day the stock fluctuated 0.687% from a day low at $40.73 to a day high of $41.01. The price has risen in 7 of the last 10 days and is up by 2.5% 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, 1 thousand more shares were traded than the day before. In total, 9 thousand shares were bought and sold for approximately $355.27 thousand.
The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $41.41 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 15.43% during the next 3 months and, with a 90% probability hold a price between $45.46 and $47.80 at the end of this 3-month period.
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CTR Signals & Forecast
The ClearBridge Energy MLP Total Return Fund 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 $40.82 and $39.02. A breakdown below any of these levels will issue sell signals. ClearBridge Energy MLP Total Return Fund 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 Thursday, March 21, 2024, and so far it has fallen -0.0811%. 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 ClearBridge Energy MLP Total Return Fund stock
On the downside, the stock finds support just below today's level from accumulated volume at $36.36 and $36.04. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, ClearBridge Energy MLP Total Return Fund finds support just below today's level at $36.36. If this is broken, then the next support from accumulated volume will be at $36.04 and $35.12.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.280 (0.687%) between high and low. For the last week, the stock has had daily average volatility of 0.666%.
Our recommended stop-loss: $39.47 (-3.75%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (CTR) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect ClearBridge Energy MLP Total Return Fund Inc to open at $40.92, and during the day (based on 14 day Average True Range), to move between $40.57 and $41.45, which gives a possible trading interval of +/-$0.441 (+/-1.08%) 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 2.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $41.04 (0.08%) than the support at $36.36 (11.34%), 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 ClearBridge Energy MLP 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 ClearBridge Energy MLP Total Return Fund stock to perform well in the short-term.
Current score: 3.902 Buy Candidate Unchanged
Predicted Opening Price for ClearBridge Energy MLP Total Return Fund Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$40.92 ( 0.228%) | $41.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 41.20 | 0.455 % | |
R2 | 41.09 | 0.194 % | ||
R1 | 41.02 | 0.0332 % | ||
Current price: | 41.01 | |||
Support | S1 | 40.81 | -0.488 % | |
S2 | 40.74 | -0.650 % | ||
S3 | 40.64 | -0.91 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 41.04 | 0.0812 % | ||
Current price | 41.01 | |||
Support | S1 | 36.36 | -11.34% | |
S2 | 36.04 | -12.12% | ||
S3 | 35.12 | -14.36% |
CTR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 21, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.700 | 1.82% |
2 | Nov 09, 2023 | Nov 21, 2023 | Nov 30, 2023 | $0.700 | 2.04% |
3 | Jul 31, 2023 | Aug 23, 2023 | Aug 31, 2023 | $0.700 | 2.14% |
4 | May 11, 2023 | May 22, 2023 | May 31, 2023 | $0.560 | 2.03% |
5 | Jan 23, 2023 | Feb 17, 2023 | Feb 28, 2023 | $0.550 | 1.84% |
FAQ
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