Alliance National Municipal Income Fund Stock Forecast
Red day on Thursday for Alliance National Municipal Income Fund
(Updated on Apr 18, 2024)
The Alliance National Municipal Income Fund stock price fell by -0.286% on the last day (Thursday, 18th Apr 2024) from $10.49 to $10.46. During the last trading day the stock fluctuated 0.377% from a day low at $10.45 to a day high of $10.49. The price has fallen in 6 of the last 10 days and is down by -1.78% for this period. Volume has increased on the last day by 6 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 22 thousand shares were bought and sold for approximately $227.56 thousand.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $10.45 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Alliance National Municipal Income Fund stock with a 90% probability to be traded between $10.31 and $10.83 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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AFB Signals & Forecast
There are few to no technical positive signals at the moment. The Alliance National Municipal Income Fund 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 $10.51 and $10.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 08, 2024, and so far it has fallen -5.34%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Alliance National Municipal Income Fund gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Alliance National Municipal Income Fund stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0394 between high and low, or 0.377%. For the last week the stock has had daily average volatility of 0.381%.
Alliance National Municipal Income Fund is oversold on RSI14 (9). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AFB) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Alliance National Municipal Income Fund Inc to open at $10.47, and during the day (based on 14 day Average True Range), to move between $10.38 and $10.54, which gives a possible trading interval of +/-$0.0784 (+/-0.75%) up or down from last closing price. If Alliance National Municipal Income Fund 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.
With no support below and resistance from accumulated volume @ $10.89, some $0.430 (4.11%) from the current price of $10.46, our system finds the risk reward not very attractive.
Is Alliance National Municipal Income Fund Inc stock A Buy?
Alliance National Municipal Income Fund holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.393 Sell Candidate Unchanged
Predicted Opening Price for Alliance National Municipal Income Fund Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $10.47 ( 0.0625%) | $10.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AFB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.51 | 0.439 % | |
| R2 | 10.49 | 0.295 % | ||
| R1 | 10.48 | 0.206 % | ||
| Current price: | 10.46 | |||
| Support | S1 | 10.45 | -0.0814 % | |
| S2 | 10.44 | -0.170 % | ||
| S3 | 10.43 | -0.314 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.95 | 4.68 % | |
| R2 | 10.94 | 4.59 % | ||
| R1 | 10.89 | 4.11 % | ||
| Current price | 10.46 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
AFB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 26, 2024 | Apr 04, 2024 | Apr 19, 2024 | $0.0327 | 0.312% |
| 2 | Mar 07, 2024 | Mar 07, 2024 | Mar 22, 2024 | $0.0327 | 0.299% |
| 3 | Jan 23, 2024 | Feb 01, 2024 | Feb 16, 2024 | $0.0327 | 0.301% |
| 4 | Dec 26, 2023 | Jan 04, 2024 | Jan 19, 2024 | $0.0327 | 0.306% |
| 5 | Nov 28, 2023 | Dec 07, 2023 | Dec 22, 2023 | $0.0327 | 0.301% |
FAQ
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