Blackrock MuniYield Quality Fund II Inc Stock Forecast
Blackrock MuniYield Quality Fund II Inc stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Blackrock MuniYield Quality Fund II Inc stock price gained 0.0981% on the last trading day (Tuesday, 25th Jun 2024), rising from $10.19 to $10.20. During the last trading day the stock fluctuated 0.491% from a day low at $10.17 to a day high of $10.22. The price has risen in 6 of the last 10 days and is up by 0.99% over the past 2 weeks. Volume fell on the last day by -32 thousand shares and in total, 36 thousand shares were bought and sold for approximately $368.33 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $10.28 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Blackrock MuniYield Quality Fund II Inc stock with a 90% probability to be traded between $9.80 and $10.30 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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MQT Signals & Forecast
The Blackrock MuniYield Quality Fund II Inc stock 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 stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $10.21. On a fall, the stock will find some support from the long-term average at approximately $10.09. 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). 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 Tuesday, June 18, 2024, and so far it has fallen -0.778%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for Blackrock MuniYield Quality Fund II Inc stock
Blackrock MuniYield Quality Fund II Inc finds support from accumulated volume at $10.10 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 $0.0499 between high and low, or 0.491%. For the last week the stock has had daily average volatility of 0.618%
Our recommended stop-loss: $9.85 (-3.45%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 41 days ago.)
Trading Expectations (MQT) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Blackrock MuniYield Quality Fund II Inc to open at $10.20, and during the day (based on 14 day Average True Range), to move between $10.12 and $10.28, which gives a possible trading interval of +/-$0.0766 (+/-0.75%) up or down from last closing price. If Blackrock MuniYield Quality Fund II Inc takes out the full calculated possible swing range there will be an estimated 1.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.21 (0.10%) than the support at $10.10 (0.98%), 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 Blackrock MuniYield Quality Fund II Inc stock A Buy?
Blackrock MuniYield Quality Fund II Inc 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: -0.830 Hold/Accumulate Upgraded
Predicted Opening Price for Blackrock MuniYield Quality Fund II Inc of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$10.20 ( 0.0330%) | $10.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MQT
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 10.25 | 0.456% |
R2 | 10.23 | 0.269% |
R1 | 10.22 | 0.154% |
Price | 10.20 | |
S1 | 10.18 | -0.220% |
S2 | 10.17 | -0.335% |
S3 | 10.15 | -0.522% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 10.41 | 2.06% |
R2 | 10.38 | 1.76% |
R1 | 10.21 | 0.0980% |
Price | 10.20 | |
S1 | 10.10 | -0.98% |
S2 | 10.00 | -1.96% |
S3 | 9.87 | -3.24% |
MQT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 14, 2024 | May 14, 2024 | May 14, 2024 | $0 | 0% |
2 | Apr 01, 2024 | Apr 12, 2024 | May 01, 2024 | $0.0490 | 0.496% |
3 | Mar 01, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.0490 | 0.475% |
4 | Nov 17, 2023 | Feb 14, 2024 | Mar 01, 2024 | $0.0490 | 0.467% |
5 | Nov 14, 2023 | Jan 11, 2024 | Feb 01, 2024 | $0.0490 | 0.470% |
FAQ
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