Tortoise Energy Independence Fund Inc Stock Forecast
Tortoise Energy Independence Fund Inc stock price ended at $34.07 on Tuesday, after losing 0.0293%.
(Updated on Apr 23, 2024)
The Tortoise Energy Independence Fund Inc stock price fell by -0.0293% on the last day (Tuesday, 23rd Apr 2024) from $34.08 to $34.07. During the last trading day the stock fluctuated 0.400% from a day low at $34.04 to a day high of $34.18. The price has been going up and down for this period, and there has been a -1.11% loss for the last 2 weeks. Volume has increased on the last day by 1 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 thousand shares were bought and sold for approximately $71.34 thousand.
The stock lies in the middle of a strong 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 23.95% during the next 3 months and, with a 90% probability hold a price between $41.67 and $43.97 at the end of this 3-month period.
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NDP Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -1.19%. 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). Tortoise Energy Independence Fund Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. The Tortoise Energy Independence Fund Inc 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 $33.59 and $33.24. A breakdown below any of these levels will issue sell signals. The stock had a Golden Star Signal on Thursday, February 08, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Thursday, February 08, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Tortoise Energy Independence Fund Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $30.81 and $30.13. 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, Tortoise Energy Independence Fund Inc finds support just below today's level at $30.81. If this is broken, then the next support from accumulated volume will be at $30.13 and $28.87.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.136 between high and low, or 0.400%. For the last week the stock has had daily average volatility of 0.86%.
Our recommended stop-loss: $32.92 (-3.38%) (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 (NDP) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Tortoise Energy Independence Fund Inc to open at $34.10, and during the day (based on 14 day Average True Range), to move between $33.69 and $34.45, which gives a possible trading interval of +/-$0.377 (+/-1.11%) up or down from last closing price. If Tortoise Energy Independence Fund Inc takes out the full calculated possible swing range there will be an estimated 2.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $34.40 (0.97%) than the support at $30.81 (9.57%), 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 Tortoise Energy Independence 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 Tortoise Energy Independence Fund Inc stock to perform well in the short-term.
Current score: 3.255 Buy Candidate Unchanged
Predicted Opening Price for Tortoise Energy Independence Fund Inc of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$34.10 ( 0.0747%) | $34.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NDP
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 34.23 | 0.475 % | |
R2 | 34.18 | 0.322 % | ||
R1 | 34.15 | 0.227 % | ||
Current price: | 34.07 | |||
Support | S1 | 34.04 | -0.0782 % | |
S2 | 34.01 | -0.173 % | ||
S3 | 33.96 | -0.325 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 34.48 | 1.20 % | |
R2 | 34.45 | 1.12 % | ||
R1 | 34.40 | 0.97 % | ||
Current price | 34.07 | |||
Support | S1 | 30.81 | -9.57% | |
S2 | 30.13 | -11.56% | ||
S3 | 28.87 | -15.27% |
NDP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 21, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.630 | 2.04% |
2 | Nov 09, 2023 | Nov 21, 2023 | Nov 30, 2023 | $0.630 | 2.18% |
3 | Aug 10, 2023 | Aug 23, 2023 | Aug 31, 2023 | $0.630 | 2.02% |
4 | May 09, 2023 | May 23, 2023 | May 31, 2023 | $0.630 | 2.33% |
5 | Feb 09, 2023 | Feb 17, 2023 | Feb 28, 2023 | $0.630 | 2.14% |
FAQ
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