MFS Intermediate Income Trust Stock Forecast
Big movements in MFS Intermediate Income Trust stock price on Friday moving 13.48% between high and low
(Updated on Apr 26, 2024)
The MFS Intermediate Income Trust stock price gained 3.45% on the last trading day (Friday, 26th Apr 2024), rising from £0.725 to £0.750. During the last trading day the stock fluctuated 13.48% from a day low at £0.705 to a day high of £0.80. The price has fallen in 5 of the last 10 days and is down by -9.64% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately £1.75 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 15.46% during the next 3 months and, with a 90% probability hold a price between £0.680 and £0.98 at the end of this 3-month period.
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MIN.L Signals & Forecast
The MFS Intermediate Income Trust 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 £0.738 and £0.740. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Monday, April 15, 2024, and so far it has fallen -9.64%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for MFS Intermediate Income Trust stock
MFS Intermediate Income Trust finds support from accumulated volume at £0.749 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £0.0950 between high and low, or 13.48%. For the last week, the stock has had daily average volatility of 9.92%.
Our recommended stop-loss: £0.704 (-6.08%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (MIN.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect MFS Intermediate Income Trust to open at £0.752, and during the day (based on 14 day Average True Range), to move between £0.682 and £0.82, which gives a possible trading interval of +/-£0.0685 (+/-9.13%) up or down from last closing price. If MFS Intermediate Income Trust takes out the full calculated possible swing range there will be an estimated 18.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £0.749 (0.20%) than the resistance at £0.756 (0.80%), 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 Intermediate Income Trust stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for MFS Intermediate Income Trust stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.638 Buy Candidate Upgraded
Predicted Opening Price for MFS Intermediate Income Trust of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| £0.752 ( 0.222%) | £0.750 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MIN.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.85 | 12.89 % | |
| R2 | 0.81 | 8.05 % | ||
| R1 | 0.788 | 5.06 % | ||
| Current price: | 0.750 | |||
| Support | S1 | 0.715 | -4.62 % | |
| S2 | 0.693 | -7.61 % | ||
| S3 | 0.657 | -12.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.80 | 6.67 % | |
| R2 | 0.775 | 3.33 % | ||
| R1 | 0.756 | 0.80 % | ||
| Current price | 0.750 | |||
| Support | S1 | 0.749 | -0.200% | |
| S2 | 0.725 | -3.33% | ||
| S3 | 0.700 | -6.67% |
FAQ
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