Economy

ClearBridge American Energy MLP Fund Inc (CBA)'s Rank Correlation Trending Higher Near-Term

(CEM) is on trader's radar as the shares have moved above the MACD Histogram line, indicating a bullish trend. The simple moving average is a mathematical calculation that takes the average price (mean) for a given amount of time. The explanation for this is Hosada felt price action and its extremes were more important than smoothing any data because price action represented where buyers/sellers entered and directed the market, thus being more important than averaging or smoothing the data out. Moving averages are a popular trading tool among investors. The indicator is non-directional meaning that it gauges trend strength whether the stock price is trending higher or lower. However, the panic subsided and growth-hungry investors came searching for their favorite stocks in the wreckage. Employing the use of the moving average for technical equity analysis is still highly popular among traders and investors.

Keeping an eye on Moving Averages, the 50-day is 15.31, the 200-day is at 15.99, and the 7-day is 14.94 for First Trust MLP and Energy Income Fund (FEI). The ATR is not used to figure out price direction, just to measure volatility. The ATR is an indicator developed by J. Welles Wilder. The general interpretation of the ATR is the higher the ATR value, the higher the volatility.

Digging deeping into the ClearBridge Energy MLP Opportunity Fund Inc (EMO) 's technical indicators, we note that the Williams Percent Range or 14 day Williams %R now sits at -13.79.

At the time of writing, the 14-day ADX for First Trust MLP and Energy Income Fund (FEI) is 34.27. As a momentum indicator, the Williams R% may be used with other technicals to help define a specific trend. The Williams %R is similar to the Stochastic Oscillator except it is plotted upside-down. An RSI reading over 70 would be considered overbought, and a reading under 30 would indicate oversold conditions. A reading between -80 to -100 may be typically viewed as strong oversold territory. A reading under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal.

One technical indicator that may assist in measuring the strength of market momentum is the Average Directional Index or ADX. Currently, the 14-day ADX for Tortoise Energy Independence Fund Inc (NDP) is 35.83. Many technical chart analysts believe that an ADX value over 25 would suggest a strong trend. A value of 50-75 would signal a very strong trend, and a value of 75-100 would indicate an extremely strong trend.

When undertaking stock analysis, investors and traders may choose to view some additional technical levels.

ClearBridge American Energy MLP Fund Inc (CBA) presently has a 14-day Commodity Channel Index (CCI) of 193.86. Despite the name, CCI can be used on other investment tools such as stocks.

Like MACD, the MACD-Histogram is also an oscillator that fluctuates above and below the zero line. MA's may be used to identify uptrends or downtrends, and they can be a prominent indicator for detecting a shift in momentum for a particular stock. A reading between 0 and -20 would point to an overbought situation. On the other hand, a reading of -100 would imply that the stock is oversold and possibly set for a rally.

Investors may also be looking to gain an edge by following the current technical levels for Clearbridge Energy MLP Fund Inc.

Checking on current RSI levels on shares of LKQ Corp (LKQ), the 14-day RSI is now standing at 62.54, the 7-day is at 68.69, and the 3-day is resting at 83.66. The opposite would be the case for a falling ADX line. Different time periods may be used when using the RSI indicator. Many traders keep an eye on the 30 and 70 marks on the RSI scale.



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