MainStay DefinedTerm Municipal Stock Forecast
MainStay DefinedTerm Municipal stock upgraded to Hold/Accumulate.
(Updated on Apr 22, 2024)
The MainStay DefinedTerm Municipal stock price fell by -0.0621% on the last day (Monday, 22nd Apr 2024) from $16.11 to $16.10. During the last trading day the stock fluctuated 0.373% from a day low at $16.08 to a day high of $16.14. The price has risen in 5 of the last 10 days but is still down by -0.56% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -16 thousand shares and in total, 49 thousand shares were bought and sold for approximately $792.47 thousand.
The stock lies in the lower of a narrow and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $16.03 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.12% during the next 3 months and, with a 90% probability hold a price between $15.69 and $16.08 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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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 $16.11 and $16.28. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.312%. 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 $16.08 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 $0.0600 between high and low, or 0.373%. For the last week the stock has had daily average volatility of 0.498%
Our recommended stop-loss: $15.14 (-5.96%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (MMD) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect MainStay DefinedTerm Municipal Opportunities Fund to open at $16.11, and during the day (based on 14 day Average True Range), to move between $15.99 and $16.21, which gives a possible trading interval of +/-$0.106 (+/-0.66%) 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 1.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $16.08 (0.12%) than the resistance at $16.35 (1.55%), 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 positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.025 Hold/Accumulate Upgraded
Predicted Opening Price for MainStay DefinedTerm Municipal Opportunities Fund of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $16.11 ( 0.0414%) | $16.10 |
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 | 16.17 | 0.414 % | |
| R2 | 16.14 | 0.272 % | ||
| R1 | 16.13 | 0.184 % | ||
| Current price: | 16.10 | |||
| Support | S1 | 16.08 | -0.101 % | |
| S2 | 16.07 | -0.189 % | ||
| S3 | 16.05 | -0.331 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.57 | 2.92 % | |
| R2 | 16.47 | 2.30 % | ||
| R1 | 16.35 | 1.55 % | ||
| Current price | 16.10 | |||
| Support | S1 | 16.08 | -0.124% | |
| S2 | 16.05 | -0.311% | ||
| S3 | 0 | . |
MMD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Jun 14, 2024 | Jun 28, 2024 | $0.0600 | 0.372% |
| 2 | May 15, 2024 | May 15, 2024 | May 31, 2024 | $0.0600 | 0.372% |
| 3 | Apr 15, 2024 | Apr 15, 2024 | Apr 30, 2024 | $0.0600 | 0.372% |
| 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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