Tortoise Energy Infrastructure Corp Stock Forecast

Tortoise Energy Infrastructure Corp stock price up 1.10% on Thursday
(Updated on May 02, 2024)

TYG Signals & Forecast

The Tortoise Energy Infrastructure Corp stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $31.42. On a fall, the stock will find some support from the long-term average at approximately $30.76. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -2.54%. 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).

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

Tortoise Energy Infrastructure Corp finds support from accumulated volume at $29.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.450 (1.46%) between high and low. For the last week, the stock has had daily average volatility of 1.35%.

Our recommended stop-loss: $29.73 (-4.54%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 7 days ago.)

Trading Expectations (TYG) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Tortoise Energy Infrastructure Corporation to open at $31.14, and during the day (based on 14 day Average True Range), to move between $30.66 and $31.62, which gives a possible trading interval of +/-$0.480 (+/-1.54%) up or down from last closing price. If Tortoise Energy Infrastructure Corporation takes out the full calculated possible swing range there will be an estimated 3.08% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $31.16 (0.06%) than the support at $29.90 (3.98%), 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 Infrastructure Corporation stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Tortoise Energy Infrastructure Corp stock to perform well in the short-term.

Current score: 3.222 Buy Candidate Unchanged

Predicted Opening Price for Tortoise Energy Infrastructure Corporation of Friday, May 3, 2024

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