RiverNorth Managed Duration Municipal Stock Forecast

RiverNorth Managed Duration Municipal stock upgraded to Hold/Accumulate.
(Updated on May 15, 2024)

RMMZ Signals & Forecast

The RiverNorth Managed Duration Municipal 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 $15.85. On a fall, the stock will find some support from the long-term average at approximately $15.80. 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. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 2.26%. 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). RiverNorth Managed Duration Municipal 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. The stock had a Golden Star Signal on Monday, May 06, 2024 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 RiverNorth Managed Duration Municipal stock

RiverNorth Managed Duration Municipal finds support from accumulated volume at $15.79 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.122 between high and low, or 0.773%. For the last week the stock has had daily average volatility of 0.723%.

Our recommended stop-loss: $15.03 (-5.19%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)

Trading Expectations (RMMZ) For The Upcoming Trading Day Of Thursday 16th

For the upcoming trading day on Thursday, 16th we expect RiverNorth Managed Duration Municipal Income Fund II, Inc. to open at $15.82, and during the day (based on 14 day Average True Range), to move between $15.64 and $16.06, which gives a possible trading interval of +/-$0.213 (+/-1.34%) up or down from last closing price. If RiverNorth Managed Duration Municipal Income Fund II, Inc. takes out the full calculated possible swing range there will be an estimated 2.69% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $15.79 (0.38%) than the resistance at $15.92 (0.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is RiverNorth Managed Duration Municipal Income Fund II, Inc. stock A Buy?

RiverNorth Managed Duration 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: -0.208 Hold/Accumulate Upgraded

Predicted Opening Price for RiverNorth Managed Duration Municipal Income Fund II, Inc. of Thursday, May 16, 2024

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