MARKET VECTORS INTERMEDIATE MUNICIPAL Stock Forecast
Strong day for MARKET VECTORS INTERMEDIATE MUNICIPAL stock price on Friday rising 6.09% to £52.75
(Updated on May 03, 2024)
The MARKET VECTORS INTERMEDIATE MUNICIPAL stock price gained 6.09% on the last trading day (Friday, 3rd May 2024), rising from £49.72 to £52.75. During the last trading day the stock fluctuated 9.45% from a day low at £48.70 to a day high of £53.30. The price has fallen in 6 of the last 10 days but is still up by 2.63% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 938 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately £211.94 million.
The stock lies in the middle of a wide and 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 -17.71% during the next 3 months and, with a 90% probability hold a price between £40.37 and £44.64 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ITM.L Signals & Forecast
The MARKET VECTORS INTERMEDIATE MUNICIPAL stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £50.71 and £52.40. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 6.69%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for MARKET VECTORS INTERMEDIATE MUNICIPAL stock
MARKET VECTORS INTERMEDIATE MUNICIPAL finds support from accumulated volume at £51.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £4.60 between high and low, or 9.45%. For the last week, the stock has had daily average volatility of 7.34%.
Our recommended stop-loss: £50.75 (-3.80%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (ITM.L) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect MARKET VECTORS INTERMEDIATE MUNICIPAL INDEX ETF to open at £51.58, and during the day (based on 14 day Average True Range), to move between £49.48 and £56.02, which gives a possible trading interval of +/-£3.27 (+/-6.19%) up or down from last closing price. If MARKET VECTORS INTERMEDIATE MUNICIPAL INDEX ETF takes out the full calculated possible swing range there will be an estimated 12.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £51.10 (3.13%) than the resistance at £62.56 (18.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MARKET VECTORS INTERMEDIATE MUNICIPAL INDEX ETF stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.170 Buy Candidate Upgraded
Predicted Opening Price for MARKET VECTORS INTERMEDIATE MUNICIPAL INDEX ETF of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| £51.58 ( 2.21%) | £52.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ITM.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 56.18 | 6.51 % | |
| R2 | 54.43 | 3.18 % | ||
| R1 | 53.34 | 1.12 % | ||
| Current price: | 52.75 | |||
| Support | S1 | 49.83 | -5.54 % | |
| S2 | 48.74 | -7.60 % | ||
| S3 | 46.98 | -10.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 65.92 | 24.97 % | |
| R2 | 63.12 | 19.66 % | ||
| R1 | 62.56 | 18.60 % | ||
| Current price | 52.75 | |||
| Support | S1 | 51.10 | -3.13% | |
| S2 | 51.05 | -3.22% | ||
| S3 | 49.72 | -5.74% |
FAQ
Click here for our free guide on how to buy MARKET VECTORS INTERMEDIATE MUNICIPAL INDEX ETF Stock.
