Tortoise Pipeline & Energy Fund Inc Stock Forecast
Stronger technical forecast for Tortoise Pipeline & Energy Fund Inc stock price after Friday trading.
(Updated on May 03, 2024)
The Tortoise Pipeline & Energy Fund Inc stock price gained 0.662% on the last trading day (Friday, 3rd May 2024), rising from $32.40 to $32.61. During the last trading day the stock fluctuated 1.33% from a day low at $32.28 to a day high of $32.71. The price has risen in 7 of the last 10 days and is up by 3.21% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 3 thousand shares were bought and sold for approximately $96.70 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 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 12.77% during the next 3 months and, with a 90% probability hold a price between $35.07 and $37.25 at the end of this 3-month period.
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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 $32.29 and $31.38. 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 7.60%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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.
Support, Risk & Stop-loss for Tortoise Pipeline & Energy Fund Inc stock
Tortoise Pipeline & Energy Fund Inc finds support from accumulated volume at $31.09 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 $0.430 between high and low, or 1.33%. For the last week the stock has had daily average volatility of 1.66%.
Our recommended stop-loss: $31.34 (-3.90%) (This stock has low daily movements and this gives low risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (TTP) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Tortoise Pipeline & Energy Fund Inc to open at $32.53, and during the day (based on 14 day Average True Range), to move between $32.15 and $33.08, which gives a possible trading interval of +/-$0.467 (+/-1.43%) 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 2.86% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $31.09, some $1.52 (4.67%) from the current price of $32.61, 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 and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.606 Strong Buy Candidate Upgraded
Predicted Opening Price for Tortoise Pipeline & Energy Fund Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $32.53 ( 0.244%) | $32.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TTP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32.96 | 1.07 % | |
| R2 | 32.80 | 0.571 % | ||
| R1 | 32.70 | 0.260 % | ||
| Current price: | 32.61 | |||
| Support | S1 | 32.37 | -0.748 % | |
| S2 | 32.27 | -1.06 % | ||
| S3 | 32.10 | -1.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 32.61 | |||
| Support | S1 | 31.09 | -4.67% | |
| S2 | 30.54 | -6.36% | ||
| S3 | 30.25 | -7.25% |
TTP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.590 | 2.02% |
| 2 | Nov 09, 2023 | Nov 21, 2023 | Nov 30, 2023 | $0.590 | 2.11% |
| 3 | Aug 10, 2023 | Aug 23, 2023 | Aug 31, 2023 | $0.590 | 2.08% |
| 4 | May 09, 2023 | May 23, 2023 | May 31, 2023 | $0.590 | 2.38% |
| 5 | Feb 09, 2023 | Feb 17, 2023 | Nov 30, 2018 | $0.590 | 1.03% |
FAQ
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