Tortoise Pipeline & Energy Fund Inc Stock Forecast

Tortoise Pipeline & Energy Fund Inc stock price up 0.84% on Thursday
(Updated on Apr 25, 2024)

TTP Signals & Forecast

The Tortoise Pipeline & Energy 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 $31.68 and $31.07. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 7.39%. Further rise is indicated until a new top pivot has been found. Tortoise Pipeline & Energy Fund Inc 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. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Tortoise Pipeline & Energy Fund Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at $30.54 and $29.08. 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 Pipeline & Energy Fund Inc finds support just below today's level at $30.54. If this is broken, then the next support from accumulated volume will be at $29.08 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 $0.350 between high and low, or 1.09%. For the last week the stock has had daily average volatility of 1.10%.

Since the Tortoise Pipeline & Energy Fund Inc has been rising for 7 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: $31.32 (-3.78%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (TTP) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Tortoise Pipeline & Energy Fund Inc to open at $32.46, and during the day (based on 14 day Average True Range), to move between $32.14 and $32.96, which gives a possible trading interval of +/-$0.406 (+/-1.25%) up or down from last closing price. If Tortoise Pipeline & Energy Fund Inc takes out the full calculated possible swing range there will be an estimated 2.49% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $30.54, some $2.01 (6.18%) from the current price of $32.55, our system finds the risk reward attractive.

Is Tortoise Pipeline & Energy Fund Inc stock A Buy?

Tortoise Pipeline & Energy Fund Inc 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.

Predicted Opening Price for Tortoise Pipeline & Energy Fund Inc of Friday, April 26, 2024

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