MFS Multimarket Income Trust Stock Forecast

MFS Multimarket Income Trust stock price up 0.656% on Friday
(Updated on May 03, 2024)

MMT Signals & Forecast

The MFS Multimarket 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 $4.55 and $4.56. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 3.48%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The stock had a Golden Star Signal on Tuesday, August 08, 2023 in the long-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 Multimarket Income Trust stock

MFS Multimarket Income Trust finds support from accumulated volume at $4.60 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 $0.0400 between high and low, or 0.87%. For the last week the stock has had daily average volatility of 0.98%

Since the MFS Multimarket Income Trust has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $4.39 (-4.61%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)

Trading Expectations (MMT) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect MFS Multimarket Income Trust to open at $4.60, and during the day (based on 14 day Average True Range), to move between $4.56 and $4.65, which gives a possible trading interval of +/-$0.0414 (+/-0.90%) up or down from last closing price. If MFS Multimarket Income Trust takes out the full calculated possible swing range there will be an estimated 1.80% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $4.61 (0.11%) than the support at $4.60 (0.11%), 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 MFS Multimarket Income Trust stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Current score: 2.252 Buy Candidate Unchanged

Predicted Opening Price for MFS Multimarket Income Trust of Monday, May 6, 2024

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