CORNERSTONE TOTAL RETURN FUND - Daily - Technical analysis published on 12/02/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 9.06 USD
My targets
9.89 USD (+5.89%)
10.42 USD (+11.56%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on CORNERSTONE TOTAL RETURN FUND as long as the price remains well above 9.06 USD. The buyers' bullish objective is set at 9.89 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 10.42 USD. If there is any crossing, the next objective would be the resistance located at 21.97 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.8
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Additional analysis
Quotes
CORNERSTONE TOTAL RETURN FUND rating 9.34 USD. The price registered an increase of +0.43% on the session and was traded between 9.29 USD and 9.35 USD over the period. The price is currently at +0.54% from its lowest and -0.11% from its highest.9.29
9.35
9.34
The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.
Opening Gap UP
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of CORNERSTONE TOTAL RETURN FUND indicates that the overall trend is strongly bullish. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : Daily
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near resistance of channel
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.35 | 8.15 | 9.06 | 9.34 | 9.36 | 9.89 | 10.42 |
| Change (%) | -21.31% | -12.74% | -3.00% | - | +0.21% | +5.89% | +11.56% |
| Change | -1.99 | -1.19 | -0.28 | - | +0.02 | +0.55 | +1.08 |
| Level | Minor | Intermediate | Intermediate | - | Minor | Minor | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 9.15 | 9.19 | 9.24 | 9.28 | 9.33 | 9.37 | 9.42 |
| Camarilla | 9.28 | 9.28 | 9.29 | 9.30 | 9.31 | 9.32 | 9.33 |
| Woodie | 9.17 | 9.19 | 9.26 | 9.28 | 9.35 | 9.37 | 9.44 |
| Fibonacci | 9.19 | 9.22 | 9.24 | 9.28 | 9.31 | 9.33 | 9.37 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.84 | 8.93 | 9.12 | 9.21 | 9.40 | 9.49 | 9.68 |
| Camarilla | 9.22 | 9.25 | 9.27 | 9.30 | 9.33 | 9.35 | 9.38 |
| Woodie | 8.88 | 8.96 | 9.16 | 9.24 | 9.44 | 9.52 | 9.72 |
| Fibonacci | 8.93 | 9.04 | 9.11 | 9.21 | 9.32 | 9.39 | 9.49 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.55 | 7.91 | 8.60 | 8.96 | 9.65 | 10.01 | 10.70 |
| Camarilla | 9.01 | 9.11 | 9.20 | 9.30 | 9.40 | 9.49 | 9.59 |
| Woodie | 7.73 | 7.99 | 8.78 | 9.04 | 9.83 | 10.09 | 10.88 |
| Fibonacci | 7.91 | 8.31 | 8.56 | 8.96 | 9.36 | 9.61 | 10.01 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 79.14 | |
| MACD (12,26,9): | 0.2400 | |
| Directional Movement: | 30.84 | |
| AROON (14): | 100.00 | |
| DEMA (21): | 9.17 | |
| Parabolic SAR (0,02-0,02-0,2): | 8.69 | |
| Elder Ray (13): | 0.29 | |
| Super Trend (3,10): | 8.89 | |
| Zig ZAG (10): | 9.30 | |
| VORTEX (21): | 1.2400 | |
| Stochastique (14,3,5): | 97.29 | |
| TEMA (21): | 9.23 | |
| Williams %R (14): | -1.45 | |
| Chande Momentum Oscillator (20): | 0.30 | |
| Repulse (5,40,3): | 2.0600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.3800 | |
| Courbe Coppock: | 11.68 |
| MA7: | 9.08 | |
| MA20: | 8.82 | |
| MA50: | 8.37 | |
| MA100: | 7.89 | |
| MAexp7: | 9.11 | |
| MAexp20: | 8.85 | |
| MAexp50: | 8.45 | |
| MAexp100: | 8.03 | |
| Price / MA7: | +2.86% | |
| Price / MA20: | +5.90% | |
| Price / MA50: | +11.59% | |
| Price / MA100: | +18.38% | |
| Price / MAexp7: | +2.52% | |
| Price / MAexp20: | +5.54% | |
| Price / MAexp50: | +10.53% | |
| Price / MAexp100: | +16.31% |
Quotes :
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15 min delayed data
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NYSE MKT Stocks
News
The last news published on CORNERSTONE TOTAL RETURN FUND at the time of the generation of this analysis was as follows:
- Cornerstone Total Return Fund, Inc. Announces Completion of Rights Offering
- Cornerstone Total Return Fund, Inc. Announces the Commencement of Its Rights Offering
- Cornerstone Total Return Fund, Inc. Announces Record Date for Rights Offering
- Cornerstone Total Return Fund, Inc. Announces the Commencement of Its Rights Offering
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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