CORNERSTONE TOTAL RETURN FUND - Daily - Technical analysis published on 11/19/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
61%
17%
22%
My opinion
Bullish above 8.15 USD
My targets
9.36 USD (+7.59%)
9.89 USD (+13.68%)
My analysis
The bullish trend is currently very strong on CORNERSTONE TOTAL RETURN FUND. As long as the price remains above the support at 8.15 USD, you could try to benefit from the boom. The first bullish objective is located at 9.36 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 9.89 USD as an objective. Crossing it would then enable buyers to target 10.42 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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.
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
7.5
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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 8.70 USD. The price registered a decrease of -0.34% on the session and was traded between 8.62 USD and 8.72 USD over the period. The price is currently at +0.93% from its lowest and -0.23% from its highest.8.62
8.72
8.70
A study of price movements over other periods shows the following variations:
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
Abnormal volumes on CORNERSTONE TOTAL RETURN FUND were detected by the Central Volumes scanner:
Abnormal volumes
Timeframe : 5 days
Technical
Technical analysis of this Daily chart of CORNERSTONE TOTAL RETURN FUND indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish price crossover with adaptative moving average 20
Type : Bearish
Timeframe : Daily
In fact, according to the parameters integrated into the Central Analyzer system, 11 technical indicators out of 18 analysed are currently bullish. Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Daily
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : Daily
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 7.02 | 7.35 | 8.15 | 8.70 | 9.36 | 9.89 | 10.42 |
| Change (%) | -19.31% | -15.52% | -6.32% | - | +7.59% | +13.68% | +19.77% |
| Change | -1.68 | -1.35 | -0.55 | - | +0.66 | +1.19 | +1.72 |
| Level | Intermediate | Intermediate | Major | - | 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 | 8.54 | 8.64 | 8.68 | 8.78 | 8.82 | 8.92 | 8.96 |
| Camarilla | 8.69 | 8.70 | 8.72 | 8.73 | 8.74 | 8.76 | 8.77 |
| Woodie | 8.52 | 8.63 | 8.66 | 8.77 | 8.80 | 8.91 | 8.94 |
| Fibonacci | 8.64 | 8.69 | 8.72 | 8.78 | 8.83 | 8.86 | 8.92 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.27 | 8.51 | 8.66 | 8.90 | 9.05 | 9.29 | 9.44 |
| Camarilla | 8.70 | 8.74 | 8.77 | 8.81 | 8.85 | 8.88 | 8.92 |
| Woodie | 8.23 | 8.49 | 8.62 | 8.88 | 9.01 | 9.27 | 9.40 |
| Fibonacci | 8.51 | 8.66 | 8.75 | 8.90 | 9.05 | 9.14 | 9.29 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7.36 | 7.58 | 7.95 | 8.17 | 8.54 | 8.76 | 9.13 |
| Camarilla | 8.16 | 8.21 | 8.27 | 8.32 | 8.37 | 8.43 | 8.48 |
| Woodie | 7.44 | 7.62 | 8.03 | 8.21 | 8.62 | 8.80 | 9.21 |
| Fibonacci | 7.58 | 7.81 | 7.95 | 8.17 | 8.40 | 8.54 | 8.76 |
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): | 62.98 | |
| MACD (12,26,9): | 0.2200 | |
| Directional Movement: | 18.87 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 8.86 | |
| Parabolic SAR (0,02-0,02-0,2): | 9.14 | |
| Elder Ray (13): | 0.11 | |
| Super Trend (3,10): | 8.70 | |
| Zig ZAG (10): | 8.73 | |
| VORTEX (21): | 1.1400 | |
| Stochastique (14,3,5): | 65.20 | |
| TEMA (21): | 8.92 | |
| Williams %R (14): | -46.53 | |
| Chande Momentum Oscillator (20): | 0.41 | |
| Repulse (5,40,3): | -1.9900 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.3500 | |
| Courbe Coppock: | 13.00 |
| MA7: | 8.88 | |
| MA20: | 8.53 | |
| MA50: | 8.15 | |
| MA100: | 7.75 | |
| MAexp7: | 8.80 | |
| MAexp20: | 8.58 | |
| MAexp50: | 8.22 | |
| MAexp100: | 7.85 | |
| Price / MA7: | -2.03% | |
| Price / MA20: | +1.99% | |
| Price / MA50: | +6.75% | |
| Price / MA100: | +12.26% | |
| Price / MAexp7: | -1.14% | |
| Price / MAexp20: | +1.40% | |
| Price / MAexp50: | +5.84% | |
| Price / MAexp100: | +10.83% |
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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