ClearBridge Energy MLP Total Return Fund Stock Forecast

ClearBridge Energy MLP Total Return Fund stock downgraded from Buy Candidate to Sell Candidate after Monday trading session.
(Updated on Apr 15, 2024)

CTR Signals & Forecast

There are few to no technical positive signals at the moment. The ClearBridge Energy MLP Total Return Fund stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $41.44 and $40.40. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -6.34%. 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). ClearBridge Energy MLP Total Return Fund gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for ClearBridge Energy MLP Total Return Fund stock

On the downside, the stock finds support just below today's level from accumulated volume at $37.37 and $36.36. 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, ClearBridge Energy MLP Total Return Fund finds support just below today's level at $37.37. If this is broken, then the next support from accumulated volume will be at $36.36 and $35.12.

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 $0.660 (1.66%) between high and low. For the last week, the stock has had daily average volatility of 1.83%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CTR) For The Upcoming Trading Day Of Tuesday 16th

For the upcoming trading day on Tuesday, 16th we expect ClearBridge Energy MLP Total Return Fund Inc to open at $40.07, and during the day (based on 14 day Average True Range), to move between $39.34 and $40.42, which gives a possible trading interval of +/-$0.538 (+/-1.35%) up or down from last closing price. If ClearBridge Energy MLP Total Return Fund Inc takes out the full calculated possible swing range there will be an estimated 2.70% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $40.01 (0.33%) than the support at $37.37 (6.29%), 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 ClearBridge Energy MLP Total Return Fund Inc stock A Buy?

The ClearBridge Energy MLP Total Return Fund stock holds several negative signals and despite the positive trend, we believe ClearBridge Energy MLP Total Return Fund will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.

Current score: -3.694 Sell Candidate Downgraded

Predicted Opening Price for ClearBridge Energy MLP Total Return Fund Inc of Tuesday, April 16, 2024

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