MFS Municipal Income Trust Stock Forecast

MFS Municipal Income Trust stock downgraded to Hold/Accumulate
(Updated on Apr 18, 2024)

MFM Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.392%. 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 MFS Municipal Income Trust stock 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 $5.14 and $5.27. 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 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 MFS Municipal Income Trust stock

MFS Municipal Income Trust finds support from accumulated volume at $5.11 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 $0.0106 between high and low, or 0.207%. For the last week the stock has had daily average volatility of 0.786%

MFS Municipal Income Trust is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $4.79 (-6.46%) (This stock has low daily movements and this gives low risk. Low RSI14 is 20 which reduces the risk some. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (MFM) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect MFS Municipal Income Trust to open at $5.12, and during the day (based on 14 day Average True Range), to move between $5.06 and $5.18, which gives a possible trading interval of +/-$0.0603 (+/-1.18%) up or down from last closing price. If MFS Municipal Income Trust takes out the full calculated possible swing range there will be an estimated 2.36% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $5.11 (0.20%) than the resistance at $5.23 (2.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is MFS Municipal Income Trust stock A Buy?

MFS Municipal Income Trust 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. 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 Hold/Accumulate candidate.

Current score: 0.080 Hold/Accumulate Downgraded

Predicted Opening Price for MFS Municipal Income Trust of Friday, April 19, 2024

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