MainStay DefinedTerm Municipal Stock Forecast
MainStay DefinedTerm Municipal stock downgraded to Sell Candidate
(Updated on Apr 18, 2024)
No changes to the price of MainStay DefinedTerm Municipal stock on the last trading day (Thursday, 18th Apr 2024). During the last trading day the stock fluctuated 0.187% from a day low at $16.07 to a day high of $16.10. The price has risen in 5 of the last 10 days but is still down by -0.68% for this period.
The stock 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 $16.04 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect MainStay DefinedTerm Municipal stock with a 90% probability to be traded between $15.77 and $16.21 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.
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MMD Signals & Forecast
There are mixed signals in the stock today. The MainStay DefinedTerm Municipal 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 $16.14 and $16.30. A break-up above any of these levels will issue buy signals. 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". A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.187%. 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).
Support, Risk & Stop-loss for MainStay DefinedTerm Municipal stock
MainStay DefinedTerm Municipal finds support from accumulated volume at $16.05 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 $0.0300 between high and low, or 0.187%. For the last week the stock has had daily average volatility of 0.528%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MMD) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect MainStay DefinedTerm Municipal Opportunities Fund to open at $16.08, and during the day (based on 14 day Average True Range), to move between $15.97 and $16.19, which gives a possible trading interval of +/-$0.112 (+/-0.69%) up or down from last closing price. If MainStay DefinedTerm Municipal Opportunities Fund takes out the full calculated possible swing range there will be an estimated 1.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.05 (0.19%) than the resistance at $16.35 (1.68%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MainStay DefinedTerm Municipal Opportunities Fund stock A Buy?
MainStay DefinedTerm Municipal 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: -1.555 Sell Candidate Downgraded
Predicted Opening Price for MainStay DefinedTerm Municipal Opportunities Fund of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $16.08 ( 0.0207%) | $16.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MMD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.11 | 0.207 % | |
| R2 | 16.10 | 0.136 % | ||
| R1 | 16.09 | 0.0920 % | ||
| Current price: | 16.08 | |||
| Support | S1 | 16.07 | -0.0505 % | |
| S2 | 16.06 | -0.0946 % | ||
| S3 | 16.05 | -0.166 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.57 | 3.05 % | |
| R2 | 16.47 | 2.43 % | ||
| R1 | 16.35 | 1.68 % | ||
| Current price | 16.08 | |||
| Support | S1 | 16.05 | -0.187% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
MMD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.0600 | 0.374% |
| 2 | May 15, 2024 | May 15, 2024 | May 31, 2024 | $0.0600 | 0.374% |
| 3 | Apr 15, 2024 | Apr 15, 2024 | Apr 30, 2024 | $0.0600 | 0.374% |
| 4 | Jan 02, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.0600 | 0.367% |
| 5 | Jan 02, 2024 | Feb 15, 2024 | Feb 29, 2024 | $0.0600 | 0.365% |
FAQ
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