ClearBridge Energy MLP Fund Inc Stock Forecast
ClearBridge Energy MLP Fund Inc stock price ended at $46.83 on Tuesday, after gaining 0.796%.
(Updated on May 07, 2024)
The ClearBridge Energy MLP Fund Inc stock price gained 0.796% on the last trading day (Tuesday, 7th May 2024), rising from $46.46 to $46.83. 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 0.88% from a day low at $46.65 to a day high of $47.06. The price has risen in 7 of the last 10 days and is up by 1.96% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 38 thousand more shares were traded than the day before. In total, 60 thousand shares were bought and sold for approximately $2.80 million.
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 12.33% during the next 3 months and, with a 90% probability hold a price between $50.63 and $54.44 at the end of this 3-month period.
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CEM Signals & Forecast
Mostly positive signals in the chart today. The ClearBridge Energy MLP 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 $45.86 and $45.43. 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 6.99%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for ClearBridge Energy MLP Fund Inc stock
ClearBridge Energy MLP Fund Inc finds support from accumulated volume at $45.97 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.410 between high and low, or 0.88%. For the last week the stock has had daily average volatility of 1.05%.
Our recommended stop-loss: $44.61 (-4.74%) (This stock has low daily movements and this gives low risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (CEM) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect ClearBridge Energy MLP Fund Inc to open at $46.85, and during the day (based on 14 day Average True Range), to move between $46.25 and $47.41, which gives a possible trading interval of +/-$0.576 (+/-1.23%) up or down from last closing price. If ClearBridge Energy MLP Fund Inc takes out the full calculated possible swing range there will be an estimated 2.46% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $45.97, some $0.86 (1.84%) from the current price of $46.83, our system finds the risk reward attractive.
Is ClearBridge Energy MLP Fund Inc stock A Buy?
ClearBridge Energy MLP 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.
Current score: 6.201 Strong Buy Candidate Unchanged
Predicted Opening Price for ClearBridge Energy MLP Fund Inc of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $46.85 ( 0.0356%) | $46.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CEM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.26 | 0.91 % | |
| R2 | 47.10 | 0.577 % | ||
| R1 | 47.00 | 0.370 % | ||
| Current price: | 46.83 | |||
| Support | S1 | 46.69 | -0.299 % | |
| S2 | 46.59 | -0.505 % | ||
| S3 | 46.44 | -0.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 46.83 | |||
| Support | S1 | 45.97 | -1.84% | |
| S2 | 45.11 | -3.67% | ||
| S3 | 42.22 | -9.84% |
CEM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 22, 2024 | May 22, 2024 | May 31, 2024 | $0.770 | 1.64% |
| 2 | Feb 21, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.770 | 1.83% |
| 3 | Nov 09, 2023 | Nov 21, 2023 | Nov 30, 2023 | $0.770 | 2.01% |
| 4 | Jul 31, 2023 | Aug 23, 2023 | Aug 31, 2023 | $0.770 | 2.10% |
| 5 | May 11, 2023 | May 22, 2023 | May 31, 2023 | $0.640 | 2.04% |
FAQ
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