RSI low/high Values: [ 25 - 75 ]
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Putnam Managed Municipal Income Trust stock downgraded to Sell Candidate
(Updated on Mar 28, 2024)

Sell candidate since Mar 28, 2024 PDF

The Putnam Managed Municipal Income Trust stock price fell by -1.40% on the last day (Thursday, 28th Mar 2024) from $6.08 to $5.99. During the last trading day the stock fluctuated 1.67% from a day low at $5.99 to a day high of $6.09. The price has fallen in 5 of the last 10 days and is down by -2.2% for this period. Volume has increased on the last day by 124 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 350 thousand shares were bought and sold for approximately $2.10 million.

The stock is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $5.99 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Putnam Managed Municipal Income Trust stock with a 90% probability to be traded between $5.94 and $6.20 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

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PMM Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Putnam Managed Municipal Income Trust stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $6.08 and $6.13. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, February 01, 2024, and so far it has fallen -4.47%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Sell
Special Signal Notification

Double Top Formation

Double Top Formation A sell signal from a double top formation was found on Thursday, February 01, 2024 and based on theory for this formation the price should fall by -3.03% to $5.81 within 13 trading days since signal was issued (Monday, April 01, 2024).

Support, Risk & Stop-loss for Putnam Managed Municipal Income Trust stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.1000 between high and low, or 1.67%. For the last week the stock has had daily average volatility of 1.18%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PMM) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Putnam Managed Municipal Income Trust to open at $6.02, and during the day (based on 14 day Average True Range), to move between $5.92 and $6.06, which gives a possible trading interval of +/-$0.0651 (+/-1.09%) up or down from last closing price. If Putnam Managed Municipal Income Trust takes out the full calculated possible swing range there will be an estimated 2.17% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $6.08, some $0.0900 (1.50%) from the current price of $5.99, our system finds the risk reward not very attractive.

Is Putnam Managed Municipal Income Trust stock A Buy?

Putnam Managed Municipal Income Trust holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.797 Sell Candidate Downgraded

Predicted Opening Price for Putnam Managed Municipal Income Trust of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$6.02 ( 0.556%) $5.99

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for PMM

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 6.12 2.23 %
R2 6.09 1.59 %
R1 6.06 1.19 %
Current price: 5.99
Support S1 5.99 -0.0812 %
S2 5.96 -0.475 %
S3 5.92 -1.11 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 6.12 2.17 %
R2 6.10 1.84 %
R1 6.08 1.50 %
Current price 5.99
Support S1 0 .
S2 0 .
S3 0 .

PMM Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Apr 23, 2024 Apr 23, 2024 May 01, 2024 $0.0238 0.397%
2 Mar 21, 2024 Mar 21, 2024 Apr 01, 2024 $0.0238 0.397%
3 Jan 29, 2024 Feb 22, 2024 Mar 01, 2024 $0.0238 0.389%
4 Nov 17, 2023 Jan 23, 2024 Feb 01, 2024 $0.0238 0.380%
5 Nov 17, 2023 Dec 21, 2023 Jan 02, 2024 $0.0238 0.392%

FAQ

What is the symbol for Putnam Managed Municipal Income Trust Stock and on which exchange is it traded?
The symbol for Putnam Managed Municipal Income Trust is PMM and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Putnam Managed Municipal Income Trust Stock?
Putnam Managed Municipal Income Trust holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

How to buy Putnam Managed Municipal Income Trust Stock?
Putnam Managed Municipal Income Trust Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Putnam Managed Municipal Income Trust Stock.

What's the current price of Putnam Managed Municipal Income Trust Stock?
As of the end of day on the 2024-03-28, the price of an Putnam Managed Municipal Income Trust (PMM) share was $5.99.

What is the 52-week high and low for Putnam Managed Municipal Income Trust Stock?
The 52-week high for Putnam Managed Municipal Income Trust Stock is $6.42 and the 52-week low is $5.00.

What is the market capitalization of Putnam Managed Municipal Income Trust Stock?
As of the 2024-03-28, the market capitalization of Putnam Managed Municipal Income Trust is 278.122M.
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About Putnam Managed Municipal Income Trust

Putnam Managed Municipal Income Trust is a close-ended fixed income mutual fund launched and managed by Putnam Investment Management LLC. It is co-managed by Putnam Investments Limited. The fund invests in the fixed income markets of the United States. It primarily invests in a diversified portfolio of tax-exempt municipal securities, including high-yield securities that are rated below investment grade. The fund benchmarks the performance of its... PMM Profile

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