What Next for Center Coast MLP & Infrastructure Fund (CEN) After Forming Wedge Down Chart Pattern?

December 7, 2017 - By Clifton Ray

Investors sentiment decreased to 1.75 in 2017 Q2. Its down 1.25, from 3 in 2017Q1. It dived, as 3 investors sold Center Coast MLP & Infrastructure Fund shares while 5 reduced holdings. 6 funds opened positions while 8 raised stakes. 3.97 million shares or 1.48% more from 3.91 million shares in 2017Q1 were reported.
1,584 were accumulated by North Star. Northern Capital Mgmt Limited Company stated it has 14,825 shares or 0.06% of all its holdings. Northwestern Mutual Wealth Mngmt reported 506 shares. 226,508 were reported by Invesco Limited. Guggenheim Capital Lc accumulated 612,369 shares or 0.02% of the stock. Royal Bank Of Canada owns 5,250 shares or 0% of their US portfolio. New York-based Bank Of Ny Mellon Corp has invested 0% in Center Coast MLP & Infrastructure Fund (NYSE:CEN). The California-based Wells Fargo & Company Mn has invested 0% in Center Coast MLP & Infrastructure Fund (NYSE:CEN). Oppenheimer & Com Inc holds 43,593 shares. Sit Inv Assoc owns 125,207 shares. Fifth Third National Bank has 195 shares. Whittier Communications has 0% invested in Center Coast MLP & Infrastructure Fund (NYSE:CEN). Morgan Stanley reported 606,878 shares stake. Oxbow Advsr Ltd has invested 2.95% in Center Coast MLP & Infrastructure Fund (NYSE:CEN). Raymond James & Assocs has invested 0% in Center Coast MLP & Infrastructure Fund (NYSE:CEN).

The stock of Center Coast MLP & Infrastructure Fund (CEN) formed a down wedge with $8.92 target or 4.00 % below today’s $9.29 share price. The 9 months wedge indicates high risk for the $ company. If the $8.92 price target is reached, the company will be worth $ less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 1.31% or $0.12 during the last trading session, reaching $9.29. About 418,700 shares traded or 113.51% up from the average. Center Coast MLP & Infrastructure Fund (NYSE:CEN) has 0.00% since December 8, 2016 and is . It has underperformed by 16.70% the S&P500.

More notable recent Center Coast MLP & Infrastructure Fund (NYSE:CEN) news were published by: Prnewswire.com which released: “Center Coast MLP & Infrastructure Fund (CEN) Statement on Hurricane Harvey” on August 30, 2017, also Marketwatch.com with their article: “Center Coast MLP & Infrastructure Fund” published on September 05, 2011, Prnewswire.com published: “Center Coast Capital Adds Jeff Jorgensen as Portfolio Manager to Center Coast …” on April 14, 2016. More interesting news about Center Coast MLP & Infrastructure Fund (NYSE:CEN) were released by: Prnewswire.com and their article: “Center Coast MLP & Infrastructure Fund (CEN) Declares Monthly Distribution” published on December 20, 2016 as well as Pionline.com‘s news article titled: “Brookfield to acquire MLP, infrastructure manager Center Coast Capital” with publication date: October 10, 2017.

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