MARKET VECTORS INTERMEDIATE MUNICIPAL Stock Forecast
Evaluation of MARKET VECTORS INTERMEDIATE MUNICIPAL stock downgraded after the last trading session.
(Updated on May 07, 2024)
No changes to the price of MARKET VECTORS INTERMEDIATE MUNICIPAL stock on the last trading day (Tuesday, 7th May 2024). During the last trading day the stock fluctuated 0% from a day low at £52.75 to a day high of £52.75. The price has fallen in 5 of the last 10 days but is still up by 2.93% over the past 2 weeks.
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 -15.61% during the next 3 months and, with a 90% probability hold a price between £38.66 and £46.17 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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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 £51.10 and £52.34. A breakdown below any of these levels will issue sell signals. 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, May 03, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
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.
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 between high and low, or 0%. For the last week the stock has had daily average volatility of 5.42%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ITM.L) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect MARKET VECTORS INTERMEDIATE MUNICIPAL INDEX ETF to open at £52.75, and during the day (based on 14 day Average True Range), to move between £49.72 and £55.78, which gives a possible trading interval of +/-£3.03 (+/-5.74%) 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 11.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £54.00 (2.37%) than the support at £51.10 (3.13%), 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 INTERMEDIATE MUNICIPAL INDEX ETF stock A Buy?
MARKET VECTORS INTERMEDIATE MUNICIPAL holds several negative signals and we believe that 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 Buy to a Sell candidate.
Current score: -1.046 Sell Candidate Downgraded
Predicted Opening Price for MARKET VECTORS INTERMEDIATE MUNICIPAL INDEX ETF of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| £52.75 ( 0%) | £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 | 52.75 | . | |
| R2 | 52.75 | . | ||
| R1 | 52.75 | . | ||
| Current price: | 52.75 | |||
| Support | S1 | 52.75 | . | |
| S2 | 52.75 | . | ||
| S3 | 52.75 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 63.48 | 20.34 % | |
| R2 | 63.12 | 19.66 % | ||
| R1 | 54.00 | 2.37 % | ||
| Current price | 52.75 | |||
| Support | S1 | 51.10 | -3.13% | |
| S2 | 51.05 | -3.22% | ||
| S3 | 49.72 | -5.74% |
FAQ
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