Neuberger Berman MLP Income Fund Inc Stock Forecast
Neuberger Berman MLP Income Fund Inc stock downgraded to Hold/Accumulate
(Updated on Mar 28, 2024)
The Neuberger Berman MLP Income Fund Inc stock price gained 1.80% on the last trading day (Thursday, 28th Mar 2024), rising from $7.24 to $7.37. During the last trading day the stock fluctuated 1.51% from a day low at $7.26 to a day high of $7.37. The price has risen in 7 of the last 10 days and is up by 3.8% over the past 2 weeks. Volume fell on the last day by -121 thousand shares and in total, 213 thousand shares were bought and sold for approximately $1.57 million. 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 has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $7.17, a level that may pose a second chance to hit a runner. According to fan-theory $7.58 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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NML Signals & Forecast
The Neuberger Berman MLP Income 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 $7.22 and $6.99. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 07, 2024, and so far it has risen 14.98%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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). The stock had a Golden Star Signal on Tuesday, December 26, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, December 26, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Neuberger Berman MLP Income Fund Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $6.93 and $6.88. 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, Neuberger Berman MLP Income Fund Inc finds support just below today's level at $6.93. If this is broken, then the next support from accumulated volume will be at $6.88 and $6.43.
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 $0.110 between high and low, or 1.51%. For the last week the stock has had daily average volatility of 1.34%.
Our recommended stop-loss: $7.14 (-3.10%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 35 days ago.)
Trading Expectations (NML) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Neuberger Berman MLP Income Fund Inc to open at $7.33, and during the day (based on 14 day Average True Range), to move between $7.27 and $7.47, which gives a possible trading interval of +/-$0.0977 (+/-1.33%) up or down from last closing price. If Neuberger Berman MLP Income Fund Inc takes out the full calculated possible swing range there will be an estimated 2.65% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $6.93, some $0.440 (5.97%) from the current price of $7.37, our system finds the risk reward attractive.
Is Neuberger Berman MLP Income Fund Inc stock A Buy?
Neuberger Berman MLP Income 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Neuberger Berman MLP Income Fund Inc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$7.33 ( 0.497%) | $7.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NML
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.44 | 0.99 % | |
R2 | 7.40 | 0.424 % | ||
R1 | 7.38 | 0.0726 % | ||
Current price: | 7.37 | |||
Support | S1 | 7.29 | -1.07 % | |
S2 | 7.27 | -1.42 % | ||
S3 | 7.22 | -1.99 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 7.37 | |||
Support | S1 | 6.93 | -5.97% | |
S2 | 6.88 | -6.65% | ||
S3 | 6.43 | -12.75% |
NML Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 29, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.0584 | 0.792% |
2 | Feb 14, 2024 | Feb 14, 2024 | Feb 29, 2024 | $0.0584 | 0.84% |
3 | Dec 29, 2023 | Jan 12, 2024 | Jan 31, 2024 | $0.0584 | 0.87% |
4 | Nov 30, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.0584 | 0.85% |
5 | Oct 31, 2023 | Nov 14, 2023 | Nov 30, 2023 | $0.0580 | 0.84% |
FAQ
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