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MFS Charter Income Trust Stock Forecast NYSE:MCR

$8.52 (-0.35%)

Volume: 43k

Closed: Dec 08, 2021

Hollow Logo Score: -2.940

MFS Charter Income Trust Stock Forecast

$8.52 (-0.35%)

Volume: 43k

Closed: Dec 08, 2021

Score Hollow Logo -2.940
Which way will MCR go? Request
Key Stats
Beta 0.13
Trailing Dividend Rate 7.89% ($0.67)
Next Dividend Date Dec 14, 2021
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 80 ] RSI14 is 49 and the stock is currently not being overbought or oversold

MFS Charter Income Trust stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Dec 08, 2021)


Sell candidate since 2021-12-06 Gain 0.24%

The MFS Charter Income Trust stock price fell by -0.35% on the last day (Wednesday, 8th Dec 2021) from $8.55 to $8.52. During the day the stock fluctuated 0.83% from a day low at $8.48 to a day high of $8.55. The price has fallen in 6 of the last 10 days, but is still up by 0.24% over the past 2 weeks. 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 -57 thousand shares and in total, 43 thousand shares were bought and sold for approximately $369.65 thousand.

The stockis at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $8.55 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect MFS Charter Income Trust stock with a 90% probability to be traded between $8.19 and $8.40 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 stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. 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.

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 Charter Income Trust stock holds a buy signal from the short-term moving average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term moving average at $8.57. On a fall, the stock will find some support from the short-term average at $8.45. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, December 07, 2021, and so far it has fallen -0.35%. 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

MFS Charter Income Trust finds support from accumulated volume at $8.51 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 $0.0700 between high and low, or 0.83%. For the last week the stock has had a daily average volatility of 1.31%

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

Is MFS Charter Income Trust stock A Buy?

MFS Charter Income Trust 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 Hold/Accumulate to a Sell candidate.

Current score: -2.940

Predicted Opening Price for MFS Charter Income Trust of Thursday, December 9, 2021

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

Fair opening price December 9, 2021 Current price
$8.52 $8.52 (Overvalued)
Sell Candidate Downgraded

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Volatility and Risk
Daily Average Volatility: 1.31 %
Overall Risk: Very High High Medium Low Very Low
Volatility
1.31 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $8.62
Price: $8.52
Support: $8.51

MCR Insider Trading Show all Trades

INSIDER POWER

1.027

Last 25 transactions
Buy: 11 484 | Sell: 11 177 (Shares)
Date Action Amount Person Type
Jan 20, 2017 Sell 100 Gutow William R MFS Charter Income Trust
Jan 20, 2017 Sell 100 Gutow William R MFS Charter Income Trust
Jan 04, 2017 Sell 1 477 Uek Robert W MFS Charter Income Trust
Jul 23, 2014 Buy 1 311 Roepke Maryanne L MFS Charter Income Trust
Dec 21, 2012 Sell 200 Sherratt J Dale MFS Charter Income Trust
Show all Insider Trades
INSIDER POWER

1.027

Last 25 transactions
Buy: 11 484 | Sell: 11 177 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 8.59 0.78 %
8.56 0.47 %
8.54 0.27 %
Current price: 8.52
Support 8.49 -0.35 %
8.47 -0.55 %
8.45 -0.86 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 8.69 2.00 %
8.68 1.88 %
8.62 1.17 %
Current price 8.52
Support 8.51 -0.12%
8.50 -0.23%
8.47 -0.59%

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