______________________
Tortoise Energy Infrastructure Group (TYG), a closed-end equity mutual fund, has been registered by The PPT as having an oversold technical score. Before I get to the statistics, it is also worth noting that the stock closed clearly below its lower daily Bollinger Band. Now, that fact alone is not a reason to get bullish on an oversold stock. However, when you combine that technical analysis with the data below, you will see that going long TYG is a high probability trade here (I currently have no position). After previous times when TYG registered a technical oversold score by The PPT algorithm, the stock has been consistently higher five, seven, and even ten trading sessions out.
Here are the statistics to support that statement.
If you enjoy the content at iBankCoin, please follow us on Twitter
5 Day – Avg Return 3.45 5 Day – Times Up 7.00 5 Day – Times Down 1.00 5 Day – # Signals 8.00 5 Day – % Times Up 87.50 7 Day – Avg Return 3.86 7 Day – Times Up 8.00 7 Day – Times Down 0.00 7 Day – # Signals 8.00 7 Day – % Times Up 100.00 10 Day – Avg Return 3.58 10 Day – Times Up 8.00 10 Day – Times Down 0.00 10 Day – # Signals 8.00 10 Day – % Times Up 100.00
Will you play it?
stay tuned, pal