Tortoise MLP Fund Inc Stock Forecast

Green day on Wednesday for Tortoise MLP Fund Inc
(Updated on Apr 24, 2024)

NTG Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -0.409%. 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). 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 also not. The Tortoise 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 $37.87 and $37.83. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for Tortoise MLP Fund Inc stock

Tortoise MLP Fund Inc finds support from accumulated volume at $37.50 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 $0.170 between high and low, or 0.438%. For the last week the stock has had daily average volatility of 1.51%.

Since the Tortoise MLP Fund Inc has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: $37.61 (-3.50%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)

Trading Expectations (NTG) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Tortoise MLP Fund Inc to open at $38.91, and during the day (based on 14 day Average True Range), to move between $38.42 and $39.52, which gives a possible trading interval of +/-$0.551 (+/-1.41%) up or down from last closing price. If Tortoise MLP Fund Inc takes out the full calculated possible swing range there will be an estimated 2.83% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $39.07 (0.26%) than the support at $37.50 (3.77%), 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 MLP Fund Inc stock A Buy?

Tortoise MLP 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.

Current score: 0.499 Hold/Accumulate Unchanged

Predicted Opening Price for Tortoise MLP Fund Inc of Thursday, April 25, 2024

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