Blackrock MuniYield Michigan Quality Stock Forecast

Red day on Thursday for Blackrock MuniYield Michigan Quality
(Updated on Apr 18, 2024)

MIY Signals & Forecast

There are few to no technical positive signals at the moment. The Blackrock MuniYield Michigan Quality 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 $11.21 and $11.44. 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 22, 2024, and so far it has fallen -4.48%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Blackrock MuniYield Michigan Quality 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 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 $0.0600 between high and low, or 0.541%. For the last week the stock has had daily average volatility of 0.627%

Blackrock MuniYield Michigan Quality is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $10.58 (-4.72%) (This stock has low daily movements and this gives low risk. Low RSI14 is 23 which reduces the risk some. There is a sell signal from a pivot top found 18 days ago.)

Trading Expectations (MIY) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Blackrock MuniYield Michigan Quality Fund Inc to open at $11.11, and during the day (based on 14 day Average True Range), to move between $11.02 and $11.18, which gives a possible trading interval of +/-$0.0811 (+/-0.73%) up or down from last closing price. If Blackrock MuniYield Michigan Quality Fund Inc takes out the full calculated possible swing range there will be an estimated 1.46% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $11.46, some $0.360 (3.24%) from the current price of $11.10, our system finds the risk reward not very attractive.

Is Blackrock MuniYield Michigan Quality Fund Inc stock A Buy?

Blackrock MuniYield Michigan Quality holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.253 Hold/Accumulate Unchanged

Predicted Opening Price for Blackrock MuniYield Michigan Quality Fund Inc of Friday, April 19, 2024

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