Colonial High Income Municipal Trust Stock Forecast

Red day on Thursday for Colonial High Income Municipal Trust
(Updated on Apr 18, 2024)

CXE Signals & Forecast

There are few to no technical positive signals at the moment. The Colonial High Income Municipal 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 $3.50 and $3.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 06, 2024, and so far it has fallen -4.40%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The very low volume increases the risk and reduces the other technical signals issued.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Wednesday, March 06, 2024 and based on theory for this formation the price should fall by -0.150% to $3.47 within 17 trading days since signal was issued (Friday, April 19, 2024).

Support, Risk & Stop-loss for Colonial High Income Municipal 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 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 $0.0055 between high and low, or 0.158%. For the last week the stock has had daily average volatility of 0.643%

Colonial High Income Municipal Trust is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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

Trading Expectations (CXE) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Colonial High Income Municipal Trust to open at $3.48, and during the day (based on 14 day Average True Range), to move between $3.45 and $3.51, which gives a possible trading interval of +/-$0.0324 (+/-0.93%) up or down from last closing price. If Colonial High Income Municipal Trust takes out the full calculated possible swing range there will be an estimated 1.86% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $3.57, some $0.0900 (2.59%) from the current price of $3.48, our system finds the risk reward not very attractive.

Is Colonial High Income Municipal Trust stock A Buy?

Colonial High Income Municipal 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.

Current score: -2.136 Sell Candidate Unchanged

Predicted Opening Price for Colonial High Income Municipal Trust of Friday, April 19, 2024

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