CORNERSTONE TOTAL RETURN FUND - 1H - Technical analysis published on 09/24/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
44%
17%
39%
My opinion
Bullish above 7.87 USD
My targets
8.07 USD (+1.86%)
8.36 USD (+5.56%)
My analysis
The basic bullish trend is very strong on CORNERSTONE TOTAL RETURN FUND but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 7.87 USD. Crossing the first resistance at 8.07 USD would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 8.36 USD as an objective. Crossing it would then enable buyers to target 8.92 USD. Caution, a return to below 7.87 USD would be a sign of a consolidation phase in the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
6.3
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Additional analysis
Quotes
CORNERSTONE TOTAL RETURN FUND rating 7.92 USD. On the day, this instrument lost -0.13% and was traded between 7.92 USD and 7.95 USD over the period. The price is currently at 0% from its lowest and -0.38% from its highest.7.92
7.95
7.92
A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.
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 1H chart of CORNERSTONE TOTAL RETURN FUND indicates that the overall trend is strongly bullish. 85.71% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages show a weakening of the global trend. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The probability of a further increase is slight given the direction of the technical indicators.
Central Indicators, the scanner specialised in technical indicators, has identified these signals:
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.81 | 7.87 | 7.92 | 7.92 | 8.36 | 8.92 | 10.14 |
| Change (%) | -1.39% | -0.63% | 0% | - | +5.56% | +12.63% | +28.03% |
| Change | -0.11 | -0.05 | 0 | - | +0.44 | +1.00 | +2.22 |
| Level | Minor | Intermediate | Intermediate | - | Intermediate | Minor | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.78 | 7.82 | 7.87 | 7.91 | 7.96 | 8.00 | 8.05 |
| Camarilla | 7.91 | 7.91 | 7.92 | 7.93 | 7.94 | 7.95 | 7.96 |
| Woodie | 7.80 | 7.82 | 7.89 | 7.91 | 7.98 | 8.00 | 8.07 |
| Fibonacci | 7.82 | 7.85 | 7.87 | 7.91 | 7.94 | 7.96 | 8.00 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.65 | 7.71 | 7.79 | 7.85 | 7.93 | 7.99 | 8.07 |
| Camarilla | 7.82 | 7.83 | 7.85 | 7.86 | 7.87 | 7.89 | 7.90 |
| Woodie | 7.65 | 7.72 | 7.79 | 7.86 | 7.93 | 8.00 | 8.07 |
| Fibonacci | 7.71 | 7.77 | 7.80 | 7.85 | 7.91 | 7.94 | 7.99 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5.40 | 5.88 | 6.80 | 7.28 | 8.20 | 8.68 | 9.60 |
| Camarilla | 7.35 | 7.47 | 7.60 | 7.73 | 7.86 | 7.99 | 8.12 |
| Woodie | 5.63 | 5.99 | 7.03 | 7.39 | 8.43 | 8.79 | 9.83 |
| Fibonacci | 5.88 | 6.41 | 6.74 | 7.28 | 7.81 | 8.14 | 8.68 |
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): | 56.61 | |
| MACD (12,26,9): | 0.0200 | |
| Directional Movement: | 7.32 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 7.94 | |
| Parabolic SAR (0,02-0,02-0,2): | 7.90 | |
| Elder Ray (13): | 0 | |
| Super Trend (3,10): | 7.88 | |
| Zig ZAG (10): | 7.93 | |
| VORTEX (21): | 1.0600 | |
| Stochastique (14,3,5): | 82.90 | |
| TEMA (21): | 7.95 | |
| Williams %R (14): | -20.10 | |
| Chande Momentum Oscillator (20): | 0.02 | |
| Repulse (5,40,3): | -0.1500 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0300 | |
| Courbe Coppock: | 1.35 |
| MA7: | 7.88 | |
| MA20: | 7.79 | |
| MA50: | 7.61 | |
| MA100: | 7.46 | |
| MAexp7: | 7.93 | |
| MAexp20: | 7.92 | |
| MAexp50: | 7.88 | |
| MAexp100: | 7.83 | |
| Price / MA7: | +0.51% | |
| Price / MA20: | +1.67% | |
| Price / MA50: | +4.07% | |
| Price / MA100: | +6.17% | |
| Price / MAexp7: | -0.13% | |
| Price / MAexp20: | -0% | |
| Price / MAexp50: | +0.51% | |
| Price / MAexp100: | +1.15% |
Quotes :
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15 min delayed data
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NYSE MKT Stocks
News
The latest news and videos published on CORNERSTONE TOTAL RETURN FUND at the time of the analysis were 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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