CORNERSTONE TOTAL RETURN FUND - 1H - Technical analysis published on 05/10/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
33%
33%
33%
My opinion
Bullish above 7.41 USD
My targets
7.71 USD (+0.52%)
7.90 USD (+3.00%)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 7.41 USD remains possible. It is advisable to trade CORNERSTONE TOTAL RETURN FUND with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 7.41 USD. The next bullish objective for buyers is set at 7.71 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 7.90 USD. If there is any crossing, the next objective would be the resistance located at 8.95 USD. PS: if there is a bearish break in the support located at 7.41 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.
Force
0
10
3.6
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CORNERSTONE TOTAL RETURN FUND price is 7.67 USD. The price registered a decrease of -0.39% on the session with the lowest point at 7.65 USD and the highest point at 7.71 USD. The deviation from the price is +0.26% for the low point and -0.52% for the high point.7.65
7.71
7.67
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by CORNERSTONE TOTAL RETURN FUND:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of CORNERSTONE TOTAL RETURN FUND indicates that the overall trend is bullish. The signals given by moving averages are 75.00% bullish. This bullish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
The Central Indicators scanner found this result concerning these indicators:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near support of channel
Type : Bullish
Timeframe : 1 hour
There is also a Japanese candlestick pattern detected by Central Candlesticks that could mark the end of the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.12 | 7.28 | 7.41 | 7.67 | 7.71 | 8.95 | 10.28 |
| Change (%) | -7.17% | -5.08% | -3.39% | - | +0.52% | +16.69% | +34.03% |
| Change | -0.55 | -0.39 | -0.26 | - | +0.04 | +1.28 | +2.61 |
| Level | Intermediate | Minor | Major | - | Major | Intermediate | Minor |
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 | 7.60 | 7.63 | 7.66 | 7.69 | 7.72 | 7.75 | 7.78 |
| Camarilla | 7.68 | 7.69 | 7.70 | 7.70 | 7.71 | 7.71 | 7.72 |
| Woodie | 7.61 | 7.63 | 7.67 | 7.69 | 7.73 | 7.75 | 7.79 |
| Fibonacci | 7.63 | 7.65 | 7.66 | 7.69 | 7.71 | 7.72 | 7.75 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.21 | 7.31 | 7.44 | 7.54 | 7.67 | 7.77 | 7.90 |
| Camarilla | 7.51 | 7.53 | 7.55 | 7.57 | 7.59 | 7.61 | 7.63 |
| Woodie | 7.23 | 7.32 | 7.46 | 7.55 | 7.69 | 7.78 | 7.92 |
| Fibonacci | 7.31 | 7.40 | 7.45 | 7.54 | 7.63 | 7.68 | 7.77 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6.42 | 6.73 | 7.12 | 7.43 | 7.82 | 8.13 | 8.52 |
| Camarilla | 7.32 | 7.38 | 7.45 | 7.51 | 7.57 | 7.64 | 7.70 |
| Woodie | 6.46 | 6.75 | 7.16 | 7.45 | 7.86 | 8.15 | 8.56 |
| Fibonacci | 6.73 | 7.00 | 7.16 | 7.43 | 7.70 | 7.86 | 8.13 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 46.89 | |
| MACD (12,26,9): | 0.0100 | |
| Directional Movement: | -9.46 | |
| AROON (14): | 35.72 | |
| DEMA (21): | 7.68 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.64 | |
| Elder Ray (13): | -0.01 | |
| Super Trend (3,10): | 7.62 | |
| Zig ZAG (10): | 7.66 | |
| VORTEX (21): | 0.9500 | |
| Stochastique (14,3,5): | 25.00 | |
| TEMA (21): | 7.67 | |
| Williams %R (14): | -75.00 | |
| Chande Momentum Oscillator (20): | -0.01 | |
| Repulse (5,40,3): | -0.1100 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0300 | |
| Courbe Coppock: | 0.01 |
| MA7: | 7.64 | |
| MA20: | 7.44 | |
| MA50: | 7.36 | |
| MA100: | 7.10 | |
| MAexp7: | 7.67 | |
| MAexp20: | 7.67 | |
| MAexp50: | 7.63 | |
| MAexp100: | 7.56 | |
| Price / MA7: | +0.39% | |
| Price / MA20: | +3.09% | |
| Price / MA50: | +4.21% | |
| Price / MA100: | +8.03% | |
| Price / MAexp7: | -0% | |
| Price / MAexp20: | -0% | |
| Price / MAexp50: | +0.52% | |
| Price / MAexp100: | +1.46% |
Quotes :
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15 min delayed data
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NYSE MKT Stocks
News
Don't forget to follow the news on CORNERSTONE TOTAL RETURN FUND. At the time of publication of this analysis, the latest news 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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