IQ MacKay Shields Municipal Insured ETF Forecast
IQ MacKay Shields Municipal Insured ETF downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jun 25, 2024)
The IQ MacKay Shields Municipal Insured ETF price gained 0.0415% on the last trading day (Tuesday, 25th Jun 2024), rising from $24.12 to $24.13. During the last trading day the ETF fluctuated 0.198% from a day low at $24.11 to a day high of $24.16. The price has risen in 7 of the last 10 days and is up by 1% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 22 thousand more shares were traded than the day before. In total, 53 thousand shares were bought and sold for approximately $1.27 million.
The ETFis at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $24.21 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect IQ MacKay Shields Municipal Insured ETF with a 90% probability to be traded between $23.75 and $24.21 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 ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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MMIN Signals & Forecast
The IQ MacKay Shields Municipal Insured ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $24.13. On a fall, the ETF will find some support from the long-term average at approximately $24.02. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). IQ MacKay Shields Municipal Insured 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. 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 Friday, June 14, 2024, and so far it has fallen -0.165%. Further fall is indicated until a new bottom pivot has been found. The ETF had a Golden Star Signal on Tuesday, June 04, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, July 12, 2023.
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 ETF in question.
Golden Star
The ETF had a Golden Star Signal on Tuesday, June 04, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, July 12, 2023.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 ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Tuesday, June 04, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, July 12, 2023.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 ETF in question.
A sell signal from a double top formation was found on Friday, June 14, 2024 and based on theory for this formation the price should fall by -2.65% to $23.49 within 21 trading days since signal was issued (Wednesday, July 17, 2024).
Support, Risk & Stop-loss for IQ MacKay Shields Municipal Insured ETF
IQ MacKay Shields Municipal Insured finds support from accumulated volume at $24.11 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.0478 between high and low, or 0.198%. For the last week the ETF has had daily average volatility of 0.331%.
Our recommended stop-loss: $23.24 (-3.71%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (MMIN) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect IQ MacKay Shields Municipal Insured ETF to open at $24.13, and during the day (based on 14 day Average True Range), to move between $24.03 and $24.23, which gives a possible trading interval of +/-$0.103 (+/-0.43%) up or down from last closing price. If IQ MacKay Shields Municipal Insured ETF takes out the full calculated possible swing range there will be an estimated 0.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $24.14 (0.04%) than the support at $24.11 (0.08%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is IQ MacKay Shields Municipal Insured ETF ETF A Buy?
IQ MacKay Shields Municipal Insured 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.336 Hold/Accumulate Downgraded
Predicted Opening Price for IQ MacKay Shields Municipal Insured ETF of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $24.13 ( 0.0169%) | $24.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MMIN
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.18 | 0.215% |
| R2 | 24.16 | 0.139% |
| R1 | 24.15 | 0.0925% |
| Price | 24.13 | |
| S1 | 24.12 | -0.0588% |
| S2 | 24.10 | -0.106% |
| S3 | 24.09 | -0.181% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.17 | 0.166% |
| R2 | 24.16 | 0.124% |
| R1 | 24.14 | 0.0414% |
| Price | 24.13 | |
| S1 | 24.11 | -0.0829% |
| S2 | 23.93 | -0.85% |
| S3 | 23.80 | -1.37% |
MMIN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 01, 2024 | May 07, 2024 | $0.0783 | 0.324% |
| 2 | Feb 06, 2024 | Apr 01, 2024 | Apr 05, 2024 | $0.0808 | 0.338% |
| 3 | Feb 06, 2024 | Mar 01, 2024 | Mar 07, 2024 | $0.0760 | 0.311% |
| 4 | Jan 31, 2024 | Feb 01, 2024 | Feb 07, 2024 | $0.0819 | 0.337% |
| 5 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | $0.0820 | 0.334% |
FAQ
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