MainStay DefinedTerm Municipal Stock Forecast
Evaluation of MainStay DefinedTerm Municipal stock downgraded after the last trading session.
(Updated on Mar 28, 2024)
No changes to the price of MainStay DefinedTerm Municipal stock on the last trading day (Thursday, 28th Mar 2024). During the last trading day the stock fluctuated 0.380% from a day low at $16.30 to a day high of $16.36. The price has risen in 5 of the last 10 days and is up by 0.55% over the past 2 weeks.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect MainStay DefinedTerm Municipal stock with a 90% probability to be traded between $16.01 and $16.63 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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MMD Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 0.554%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The MainStay DefinedTerm Municipal stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $16.42. On a fall, the stock will find some support from the short-term average at $16.33. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for MainStay DefinedTerm Municipal stock
MainStay DefinedTerm Municipal finds support from accumulated volume at $16.32 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 $0.0620 between high and low, or 0.380%. For the last week the stock has had daily average volatility of 0.481%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MMD) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect MainStay DefinedTerm Municipal Opportunities Fund to open at $16.34, and during the day (based on 14 day Average True Range), to move between $16.23 and $16.47, which gives a possible trading interval of +/-$0.116 (+/-0.71%) up or down from last closing price. If MainStay DefinedTerm Municipal Opportunities Fund takes out the full calculated possible swing range there will be an estimated 1.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.38 (0.18%) than the support at $16.32 (0.18%), 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 MainStay DefinedTerm Municipal Opportunities Fund stock A Buy?
MainStay DefinedTerm Municipal holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.101 Sell Candidate Downgraded
Predicted Opening Price for MainStay DefinedTerm Municipal Opportunities Fund of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$16.34 ( 0.0775%) | $16.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MMD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 16.40 | 0.302 % | |
R2 | 16.38 | 0.157 % | ||
R1 | 16.36 | 0.0674 % | ||
Current price: | 16.35 | |||
Support | S1 | 16.31 | -0.222 % | |
S2 | 16.30 | -0.312 % | ||
S3 | 16.28 | -0.457 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 16.57 | 1.35 % | |
R2 | 16.50 | 0.92 % | ||
R1 | 16.38 | 0.183 % | ||
Current price | 16.35 | |||
Support | S1 | 16.32 | -0.183% | |
S2 | 16.26 | -0.550% | ||
S3 | 16.25 | -0.612% |
MMD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 02, 2024 | Mar 14, 2024 | Mar 28, 2024 | $0.0600 | 0.367% |
2 | Jan 02, 2024 | Feb 15, 2024 | Feb 29, 2024 | $0.0600 | 0.365% |
3 | Jan 02, 2024 | Jan 12, 2024 | Jan 31, 2024 | $0.0600 | 0.362% |
4 | Oct 02, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.0600 | 0.369% |
5 | Oct 02, 2023 | Nov 14, 2023 | Nov 30, 2023 | $0.0600 | 0.380% |
FAQ
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