Tortoise MLP Fund Inc Stock Forecast
Tortoise MLP Fund Inc stock price up 1.31% on Wednesday
(Updated on Apr 17, 2024)
The Tortoise MLP Fund Inc stock price gained 1.31% on the last trading day (Wednesday, 17th Apr 2024), rising from $36.50 to $36.98. During the last trading day the stock fluctuated 1.12% from a day low at $36.57 to a day high of $36.98. The price has fallen in 7 of the last 10 days and is down by -5.49% for this period. Volume fell on the last day by -9 thousand shares and in total, 4 thousand shares were bought and sold for approximately $163.30 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 $36.58 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 13.65% during the next 3 months and, with a 90% probability hold a price between $41.57 and $45.35 at the end of this 3-month period.
NTG Signals & Forecast
There are few to no technical positive signals at the moment. The Tortoise MLP 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 $37.64 and $37.52. 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 03, 2024, and so far it has fallen -5.49%. 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 also not.
Support, Risk & Stop-loss for Tortoise MLP Fund Inc stock
Tortoise MLP Fund Inc finds support from accumulated volume at $36.76 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 controlled movements and therefore the general risk is considered 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 $0.410 between high and low, or 1.12%. For the last week the stock has had daily average volatility of 2.10%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NTG) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Tortoise MLP Fund Inc to open at $36.84, and during the day (based on 14 day Average True Range), to move between $36.44 and $37.52, which gives a possible trading interval of +/-$0.539 (+/-1.46%) up or down from last closing price. If Tortoise MLP Fund Inc takes out the full calculated possible swing range there will be an estimated 2.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $36.76 (0.59%) than the resistance at $37.34 (0.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tortoise MLP Fund Inc stock A Buy?
The Tortoise MLP Fund Inc stock holds several negative signals and despite the positive trend, we believe Tortoise MLP Fund Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.064 Sell Candidate Unchanged
Predicted Opening Price for Tortoise MLP Fund Inc of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $36.84 ( 0.370%) | $36.98 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NTG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.25 | 0.739 % | |
| R2 | 37.10 | 0.316 % | ||
| R1 | 37.00 | 0.0540 % | ||
| Current price: | 36.98 | |||
| Support | S1 | 36.69 | -0.793 % | |
| S2 | 36.59 | -1.05 % | ||
| S3 | 36.43 | -1.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37.65 | 1.81 % | |
| R2 | 37.50 | 1.41 % | ||
| R1 | 37.34 | 0.97 % | ||
| Current price | 36.98 | |||
| Support | S1 | 36.76 | -0.595% | |
| S2 | 35.47 | -4.08% | ||
| S3 | 34.09 | -7.82% |
NTG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.770 | 2.15% |
| 2 | Nov 09, 2023 | Nov 21, 2023 | Nov 30, 2023 | $0.770 | 2.25% |
| 3 | Aug 10, 2023 | Aug 23, 2023 | Aug 31, 2023 | $0.770 | 2.18% |
| 4 | May 09, 2023 | May 23, 2023 | May 31, 2023 | $0.770 | 2.44% |
| 5 | Feb 09, 2023 | Feb 17, 2023 | Feb 28, 2023 | $0.770 | 2.18% |
FAQ
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