MFS Government Markets Income Trust Stock Forecast

Weaker technical forecast for MFS Government Markets Income Trust as stock downgraded to Sell Candidate.
(Updated on Jul 02, 2024)

MGF Signals & Forecast

The MFS Government Markets Income Trust stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $3.07 and $3.07. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 10, 2024, and so far it has risen 2.16%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). MFS Government Markets Income Trust has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Despite all the positive signals in the chart we there to be so much uncertainty and risk that we cannot upgrade this stock's score yet. The stock had a Golden Star Signal on Wednesday, June 26, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for MFS Government Markets Income Trust stock

MFS Government Markets Income Trust finds support from accumulated volume at $3.07 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0219 between high and low, or 0.714%. For the last week the stock has had daily average volatility of 0.85%.

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

Trading Expectations (MGF) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect MFS Government Markets Income Trust to open at $3.08, and during the day (based on 14 day Average True Range), to move between $3.05 and $3.11, which gives a possible trading interval of +/-$0.0303 (+/-0.98%) up or down from last closing price. If MFS Government Markets Income Trust takes out the full calculated possible swing range there will be an estimated 1.97% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $3.07 (0.32%) than the resistance at $3.10 (0.65%), 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 Government Markets Income Trust stock A Buy?

MFS Government Markets 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: -1.277 Sell Candidate Downgraded

Predicted Opening Price for MFS Government Markets Income Trust of Wednesday, July 3, 2024

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