Maiden Holdings Ltd. 6.625% Notes due ETF Forecast
Maiden Holdings Ltd. 6.625% Notes due ETF upgraded to Buy Candidate.
(Updated on Apr 24, 2024)
The Maiden Holdings Ltd. 6.625% Notes due ETF price gained 3.21% on the last trading day (Wednesday, 24th Apr 2024), rising from $15.89 to $16.40. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 2.95% from a day low at $15.93 to a day high of $16.40. The price has risen in 7 of the last 10 days but is still down by -1.23% for this period. Volume fell on the last day by -27 shares and in total, 792 shares were bought and sold for approximately $12.99 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 ETF lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 2.44% during the next 3 months and, with a 90% probability hold a price between $16.17 and $17.76 at the end of this 3-month period.
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MHLA Signals & Forecast
The Maiden Holdings Ltd. 6.625% Notes due ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the ETF 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 $15.94 and $16.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 4.13%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Maiden Holdings Ltd. 6.625% Notes due ETF
Maiden Holdings Ltd. 6.625% Notes due finds support from accumulated volume at $16.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.470 between high and low, or 2.95%. For the last week the ETF has had daily average volatility of 1.46%.
Our recommended stop-loss: $15.69 (-4.30%) (This ETF has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (MHLA) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Maiden Holdings Ltd. 6.625% Notes due 2046 to open at $16.24, and during the day (based on 14 day Average True Range), to move between $16.11 and $16.69, which gives a possible trading interval of +/-$0.288 (+/-1.75%) up or down from last closing price. If Maiden Holdings Ltd. 6.625% Notes due 2046 takes out the full calculated possible swing range there will be an estimated 3.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.49 (0.52%) than the support at $16.20 (1.22%), 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 Maiden Holdings Ltd. 6.625% Notes due 2046 ETF A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Maiden Holdings Ltd. 6.625% Notes due ETF to perform well in the short-term. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.146 Buy Candidate Upgraded
Predicted Opening Price for Maiden Holdings Ltd. 6.625% Notes due 2046 of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $16.24 ( 0.96%) | $16.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MHLA
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.71 | 1.91 % | |
| R2 | 16.53 | 0.82 % | ||
| R1 | 16.42 | 0.139 % | ||
| Current price: | 16.40 | |||
| Support | S1 | 16.06 | -2.05 % | |
| S2 | 15.95 | -2.73 % | ||
| S3 | 15.77 | -3.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.15 | 4.57 % | |
| R2 | 16.68 | 1.71 % | ||
| R1 | 16.49 | 0.519 % | ||
| Current price | 16.40 | |||
| Support | S1 | 16.20 | -1.22% | |
| S2 | 16.00 | -2.44% | ||
| S3 | 15.88 | -3.17% |
MHLA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2024 | May 30, 2024 | Jun 14, 2024 | $0.414 | 2.52% |
| 2 | Feb 27, 2024 | Feb 27, 2024 | Mar 14, 2024 | $0.414 | 2.61% |
| 3 | Nov 29, 2023 | Nov 29, 2023 | Dec 14, 2023 | $0.414 | 2.36% |
| 4 | Aug 29, 2023 | Aug 29, 2023 | Sep 14, 2023 | $0.414 | 2.63% |
| 5 | May 26, 2023 | May 26, 2023 | Jun 14, 2023 | $0.414 | 2.54% |
FAQ
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