Tortoise Power and Energy Infrastructure Stock Forecast

Buy or Hold candidate since Jan 02, 2025 Gain 7.11%

The Tortoise Power and Energy Infrastructure stock price gained 0.691% on the last trading day (Friday, 17th Jan 2025), rising from $21.70 to $21.85. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.30% from a day low at $21.70 to a day high of $21.98. The price has risen in 7 of the last 10 days and is up by 7.11% over the past 2 weeks. Volume fell on the last day by -218 thousand shares and in total, 75 thousand shares were bought and sold for approximately $1.64 million. 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 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 $22.15 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 10.57% during the next 3 months and, with a 90% probability hold a price between $22.29 and $24.49 at the end of this 3-month period.

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TPZ Signals & Forecast

The Tortoise Power and Energy Infrastructure 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 $21.19 and $20.44. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, December 19, 2024, and so far it has risen 11.88%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Tortoise Power and Energy Infrastructure stock

On the downside, the stock finds support just below today's level from accumulated volume at $20.40 and $20.02. 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 Power and Energy Infrastructure finds support just below today's level at $20.40. If this is broken, then the next support from accumulated volume will be at $20.02 and $19.95.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.281 between high and low, or 1.30%. For the last week, the stock has had daily average volatility of 1.40%.

The Tortoise Power and Energy Infrastructure stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stock may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $20.94 (-4.18%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 92 and this increases the risk substantially. There is a buy signal from a pivot bottom found 18 days ago.)

Trading Expectations (TPZ) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Tortoise Power and Energy Infrastructure Fund Inc to open at $21.84, and during the day (based on 14 day Average True Range), to move between $21.53 and $22.17, which gives a possible trading interval of +/-$0.320 (+/-1.47%) up or down from last closing price. If Tortoise Power and Energy Infrastructure Fund Inc takes out the full calculated possible swing range there will be an estimated 2.93% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $20.40, some $1.45 (6.64%) from the current price of $21.85, our system finds the risk reward attractive.

Is Tortoise Power and Energy Infrastructure Fund Inc stock A Buy?

Tortoise Power and Energy Infrastructure holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

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Predicted Fair Opening Price

Predicted fair opening price on January 21, 2025 - $21.84 ( 0.0439%).