Tortoise Energy Independence Fund Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Thursday for Tortoise Energy Independence Fund Inc stock after gaining 1.45%
(Updated on May 02, 2024)
The Tortoise Energy Independence Fund Inc stock price gained 1.45% on the last trading day (Thursday, 2nd May 2024), rising from $33.07 to $33.55. During the last trading day the stock fluctuated 0.630% from a day low at $33.34 to a day high of $33.55. The price has been going up and down for this period, and there has been a 0.78% gain for the last 2 weeks. Volume fell on the last day by -4 thousand shares and in total, 2 thousand shares were bought and sold for approximately $69.68 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $33.17 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 20.17% during the next 3 months and, with a 90% probability hold a price between $39.86 and $43.34 at the end of this 3-month period.
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NDP Signals & Forecast
There are few to no technical positive signals at the moment. The Tortoise Energy Independence Fund Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $33.83 and $33.66. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -2.70%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. 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
Tortoise Energy Independence Fund Inc finds support from accumulated volume at $31.91 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 $0.210 between high and low, or 0.630%. For the last week the stock has had daily average volatility of 0.91%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NDP) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Tortoise Energy Independence Fund Inc to open at $33.48, and during the day (based on 14 day Average True Range), to move between $33.15 and $33.95, which gives a possible trading interval of +/-$0.400 (+/-1.19%) 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 2.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $33.81 (0.79%) than the support at $31.91 (4.90%), 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?
The Tortoise Energy Independence Fund Inc stock holds several negative signals and despite the positive trend, we believe Tortoise Energy Independence Fund Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.568 Sell Candidate Unchanged
Predicted Opening Price for Tortoise Energy Independence Fund Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $33.48 ( 0.209%) | $33.55 |
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 | 33.69 | 0.417 % | |
| R2 | 33.61 | 0.178 % | ||
| R1 | 33.56 | 0.0305 % | ||
| Current price: | 33.55 | |||
| Support | S1 | 33.40 | -0.448 % | |
| S2 | 33.35 | -0.595 % | ||
| S3 | 33.27 | -0.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.84 | 0.86 % | |
| R2 | 33.82 | 0.80 % | ||
| R1 | 33.81 | 0.786 % | ||
| Current price | 33.55 | |||
| Support | S1 | 31.91 | -4.90% | |
| S2 | 30.81 | -8.17% | ||
| S3 | 30.13 | -10.19% |
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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