MARKET VECTORS HIGH-YIELD MUNICIPAL ETF Forecast
Evaluation of MARKET VECTORS HIGH-YIELD MUNICIPAL ETF downgraded after the last trading session.
(Updated on Jun 21, 2024)
The MARKET VECTORS HIGH-YIELD MUNICIPAL ETF price fell by -0.0959% on the last day (Friday, 21st Jun 2024) from $52.12 to $52.07. During the last trading day the ETF fluctuated 0.404% from a day low at $52.02 to a day high of $52.23. The price has been going up and down for this period, and there has been a 0.29% gain for the last 2 weeks. Volume has increased on the last day by 143 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, 393 thousand shares were bought and sold for approximately $20.48 million.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect MARKET VECTORS HIGH-YIELD MUNICIPAL ETF with a 90% probability to be traded between $51.39 and $52.52 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 ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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HYD Signals & Forecast
The MARKET VECTORS HIGH-YIELD MUNICIPAL ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $52.15. On a fall, the ETF will find some support from the long-term average at approximately $51.71. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -0.478%. 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 ETF should be followed more closely. The ETF had a Golden Star Signal on Monday, June 03, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, May 06, 2024.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star
The ETF had a Golden Star Signal on Monday, June 03, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, May 06, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Monday, June 03, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, May 06, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Support, Risk & Stop-loss for MARKET VECTORS HIGH-YIELD MUNICIPAL ETF
MARKET VECTORS HIGH-YIELD MUNICIPAL finds support from accumulated volume at $51.92 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.210 between high and low, or 0.404%. For the last week the ETF has had daily average volatility of 0.340%.
Our recommended stop-loss: $50.65 (-2.72%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (HYD) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect MARKET VECTORS HIGH-YIELD MUNICIPAL INDEX ETF to open at $52.11, and during the day (based on 14 day Average True Range), to move between $51.85 and $52.29, which gives a possible trading interval of +/-$0.217 (+/-0.42%) up or down from last closing price. If MARKET VECTORS HIGH-YIELD MUNICIPAL INDEX ETF takes out the full calculated possible swing range there will be an estimated 0.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $52.13 (0.12%) than the support at $51.92 (0.29%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is MARKET VECTORS HIGH-YIELD MUNICIPAL INDEX ETF ETF A Buy?
MARKET VECTORS HIGH-YIELD MUNICIPAL holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.423 Hold/Accumulate Downgraded
Predicted Opening Price for MARKET VECTORS HIGH-YIELD MUNICIPAL INDEX ETF of Monday, June 24, 2024
Fair opening price June 24, 2024 | Current price |
---|---|
$52.11 ( 0.0704%) | $52.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HYD
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 52.32 | 0.474% |
R2 | 52.24 | 0.320% |
R1 | 52.19 | 0.224% |
Price | 52.07 | |
S1 | 52.03 | -0.0836% |
S2 | 51.98 | -0.179% |
S3 | 51.90 | -0.333% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 52.32 | 0.480% |
R2 | 52.24 | 0.326% |
R1 | 52.13 | 0.115% |
Price | 52.07 | |
S1 | 51.92 | -0.288% |
S2 | 51.49 | -1.11% |
S3 | 51.36 | -1.36% |
HYD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 01, 2024 | May 01, 2024 | May 07, 2024 | $0.213 | 0.412% |
2 | Mar 28, 2024 | Apr 01, 2024 | Apr 05, 2024 | $0.194 | 0.378% |
3 | Mar 01, 2024 | Mar 01, 2024 | Mar 07, 2024 | $0.171 | 0.328% |
4 | Feb 01, 2024 | Feb 01, 2024 | Feb 07, 2024 | $0.193 | 0.375% |
5 | Dec 27, 2023 | Dec 27, 2023 | Dec 27, 2023 | $0.181 | 0.350% |
FAQ
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