Merrill Lynch Capital Trust I Gtd Cap Trust Forecast
Merrill Lynch Capital Trust I Gtd Cap trust price down 0.0397% on Wednesday
(Updated on Jun 26, 2024)
The Merrill Lynch Capital Trust I Gtd Cap trust price fell by -0.0397% on the last day (Wednesday, 26th Jun 2024) from $25.22 to $25.21. During the last trading day the trust fluctuated 0.238% from a day low at $25.18 to a day high of $25.24. The price has been going up and down for this period, and there has been a -1.14% loss for the last 2 weeks. Volume fell on the last day along with the trust, which is actually a good sign as volume should follow the trust. On the last day, the trading volume fell by -18 thousand shares and in total, 20 thousand shares were bought and sold for approximately $497.02 thousand.
The trust is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $25.20 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Merrill Lynch Capital Trust I Gtd Cap trust with a 90% probability to be traded between $25.21 and $25.62 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 trusts seldom manage to go directly from the bottom of a trend up to the top. Trusts turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MER-PK Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 0.0397%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Merrill Lynch Capital Trust I Gtd Cap trust 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 $25.24 and $25.38. A break-up above any of these levels will issue buy signals. 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 trust may have low liquidity in periods, which increases the general risk.
A buy signal from a double bottom formation was found on Monday, June 24, 2024 and based on theory for this formation the price should go up by 0.770% to $25.41 within 48 trading days since signal was issued (Friday, August 30, 2024).
Support, Risk & Stop-loss for Merrill Lynch Capital Trust I Gtd Cap trust
Merrill Lynch Capital Trust I Gtd Cap finds support from accumulated volume at $25.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the trust 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 trust During the last day, the trust moved $0.0599 between high and low, or 0.238%. For the last week the trust has had daily average volatility of 0.233%
Our recommended stop-loss: $23.61 (-6.33%) (This trust has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (MER-PK) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Merrill Lynch Capital Trust I Gtd Cap 6.45% to open at $25.21, and during the day (based on 14 day Average True Range), to move between $25.12 and $25.30, which gives a possible trading interval of +/-$0.0937 (+/-0.37%) up or down from last closing price. If Merrill Lynch Capital Trust I Gtd Cap 6.45% takes out the full calculated possible swing range there will be an estimated 0.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $25.20 (0.04%) than the resistance at $25.24 (0.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Merrill Lynch Capital Trust I Gtd Cap 6.45% trust A Buy?
Merrill Lynch Capital Trust I Gtd Cap holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.705 Hold/Accumulate Unchanged
Predicted Opening Price for Merrill Lynch Capital Trust I Gtd Cap 6.45% of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| $25.21 ( 0.0001%) | $25.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MER-PK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.27 | 0.238% |
| R2 | 25.25 | 0.147% |
| R1 | 25.23 | 0.0909% |
| Price | 25.21 | |
| S1 | 25.19 | -0.0906% |
| S2 | 25.17 | -0.147% |
| S3 | 25.15 | -0.237% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.42 | 0.83% |
| R2 | 25.40 | 0.754% |
| R1 | 25.24 | 0.119% |
| Price | 25.21 | |
| S1 | 25.20 | -0.0397% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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