MFS Intermediate Income Trust Stock Forecast
MFS Intermediate Income Trust stock downgraded from Sell Candidate to Strong Sell Candidate after Friday trading session.
(Updated on May 17, 2024)
The MFS Intermediate Income Trust stock price fell by -1.14% on the last day (Friday, 17th May 2024) from $2.64 to $2.61. During the last trading day the stock fluctuated 1.15% from a day low at $2.61 to a day high of $2.64. The price has fallen in 6 of the last 10 days and is down by -1.88% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -119 thousand shares and in total, 117 thousand shares were bought and sold for approximately $304.63 thousand.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.28% during the next 3 months and, with a 90% probability hold a price between $2.42 and $2.54 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MIN 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 MFS Intermediate Income Trust stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $2.62 and $2.61. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -2.25%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for MFS Intermediate Income Trust stock
MFS Intermediate Income Trust finds support from accumulated volume at $2.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0300 between high and low, or 1.15%. For the last week the stock has had daily average volatility of 1.01%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MIN) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect MFS Intermediate Income Trust to open at $2.62, and during the day (based on 14 day Average True Range), to move between $2.58 and $2.64, which gives a possible trading interval of +/-$0.0281 (+/-1.08%) up or down from last closing price. If MFS Intermediate Income Trust takes out the full calculated possible swing range there will be an estimated 2.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $2.60 (0.38%) than the resistance at $2.63 (0.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MFS Intermediate Income Trust stock A Buy?
MFS Intermediate Income Trust holds several negative signals and is within a 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 Sell to a Strong Sell candidate.
Current score: -5.046 Strong Sell Candidate Downgraded
Predicted Opening Price for MFS Intermediate Income Trust of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $2.62 ( 0.383%) | $2.61 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MIN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.65 | 1.53 % | |
| R2 | 2.64 | 1.09 % | ||
| R1 | 2.63 | 0.82 % | ||
| Current price: | 2.61 | |||
| Support | S1 | 2.61 | -0.0559 % | |
| S2 | 2.60 | -0.327 % | ||
| S3 | 2.59 | -0.766 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.66 | 1.92 % | |
| R2 | 2.64 | 1.15 % | ||
| R1 | 2.63 | 0.766 % | ||
| Current price | 2.61 | |||
| Support | S1 | 2.60 | -0.383% | |
| S2 | 2.60 | -0.575% | ||
| S3 | 2.57 | -1.53% |
MIN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2024 | May 14, 2024 | May 31, 2024 | $0.0200 | 0.766% |
| 2 | Apr 01, 2024 | Apr 16, 2024 | Apr 30, 2024 | $0.0203 | 0.779% |
| 3 | Mar 12, 2024 | Mar 12, 2024 | Mar 12, 2024 | $0.0406 | 1.54% |
| 4 | Feb 01, 2024 | Feb 13, 2024 | Feb 29, 2024 | $0.0206 | 0.750% |
| 5 | Jan 02, 2024 | Jan 16, 2024 | Jan 31, 2024 | $0.0206 | 0.729% |
FAQ
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