ClearBridge Energy MLP Opportunity Fund Stock Forecast

ClearBridge Energy MLP Opportunity Fund stock upgraded to Strong Buy Candidate.
(Updated on Apr 19, 2024)

EMO Signals & Forecast

The ClearBridge Energy MLP Opportunity Fund 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 $39.61 and $39.63. A breakdown below any of these levels will issue sell signals. ClearBridge Energy MLP Opportunity 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 Monday, April 08, 2024, and so far it has fallen -2.80%. 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 Opportunity Fund stock

On the downside, the stock finds support just below today's level from accumulated volume at $36.57 and $35.94. 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 Opportunity Fund finds support just below today's level at $36.57. If this is broken, then the next support from accumulated volume will be at $35.94 and $35.81.

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 $1.12 (2.83%) between high and low. For the last week, the stock has had daily average volatility of 2.17%.

Our recommended stop-loss: $38.43 (-4.68%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (EMO) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect ClearBridge Energy MLP Opportunity Fund Inc to open at $40.17, and during the day (based on 14 day Average True Range), to move between $39.63 and $41.01, which gives a possible trading interval of +/-$0.687 (+/-1.70%) up or down from last closing price. If ClearBridge Energy MLP Opportunity Fund Inc takes out the full calculated possible swing range there will be an estimated 3.41% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $40.61 (0.72%) than the support at $36.57 (9.30%), 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 Opportunity Fund Inc stock A Buy?

ClearBridge Energy MLP Opportunity Fund holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Buy candidate.

Current score: 5.192 Strong Buy Candidate Upgraded

Predicted Opening Price for ClearBridge Energy MLP Opportunity Fund Inc of Monday, April 22, 2024

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