Blackrock MuniYield Quality Fund III Inc Stock Forecast
Evaluation of Blackrock MuniYield Quality Fund III Inc stock downgraded after the last trading session.
(Updated on Apr 25, 2024)
The Blackrock MuniYield Quality Fund III Inc stock price fell by -0.637% on the last day (Thursday, 25th Apr 2024) from $10.99 to $10.92. During the last trading day the stock fluctuated 0.368% from a day low at $10.88 to a day high of $10.92. The price has fallen in 8 of the last 10 days and is down by -2.5% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -33 thousand shares and in total, 151 thousand shares were bought and sold for approximately $1.65 million.
The stock lies in the lower of a falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $10.87 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.41% during the next 3 months and, with a 90% probability hold a price between $10.60 and $11.20 at the end of this 3-month period.
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MYI Signals & Forecast
There are few to no technical positive signals at the moment. The Blackrock MuniYield Quality Fund III Inc 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 $10.98 and $11.26. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -6.10%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Blackrock MuniYield Quality Fund III Inc 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 $0.0400 between high and low, or 0.368%. For the last week the stock has had daily average volatility of 0.677%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MYI) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Blackrock MuniYield Quality Fund III Inc to open at $10.91, and during the day (based on 14 day Average True Range), to move between $10.82 and $11.02, which gives a possible trading interval of +/-$0.0968 (+/-0.89%) up or down from last closing price. If Blackrock MuniYield Quality Fund III Inc takes out the full calculated possible swing range there will be an estimated 1.77% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $11.00, some $0.0800 (0.73%) from the current price of $10.92, our system finds the risk reward not very attractive.
Is Blackrock MuniYield Quality Fund III Inc stock A Buy?
Blackrock MuniYield Quality Fund III Inc 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. 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: -2.679 Sell Candidate Downgraded
Predicted Opening Price for Blackrock MuniYield Quality Fund III Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $10.91 ( 0.122%) | $10.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MYI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.95 | 0.244 % | |
| R2 | 10.93 | 0.104 % | ||
| R1 | 10.92 | 0.0178 % | ||
| Current price: | 10.92 | |||
| Support | S1 | 10.89 | -0.262 % | |
| S2 | 10.88 | -0.348 % | ||
| S3 | 10.87 | -0.488 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.57 | 5.95 % | |
| R2 | 11.33 | 3.75 % | ||
| R1 | 11.00 | 0.733 % | ||
| Current price | 10.92 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
MYI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 12, 2024 | May 01, 2024 | $0.0555 | 0.508% |
| 2 | Mar 01, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.0555 | 0.490% |
| 3 | Nov 17, 2023 | Feb 14, 2024 | Mar 01, 2024 | $0.0555 | 0.482% |
| 4 | Nov 14, 2023 | Jan 11, 2024 | Feb 01, 2024 | $0.0555 | 0.486% |
| 5 | Nov 14, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.0555 | 0.477% |
FAQ
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