MFS HIGH YIELD MUNICIPAL TR (CMU) Stock Technical Analysis
NYSE:CMU - New York Stock Exchange, Inc. - US59318E1029 - Currency: USD
We assign a technical rating of 1 out of 10 to CMU. CMU scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
Although the technical rating is bad, CMU does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 3.38. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 3.36, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for CMU in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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3.17
2 important support areas can be observed.
- A support zone ranging from 3.34 to 3.36. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 3.20 to 3.27. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice 3 important areas.
- A resistance zone ranging from 3.38 to 3.40. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 3.54 to 3.58. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A resistance zone ranging from 3.66 to 3.70. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for CMU is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for CMU is neutral. |
| ChartMill Relative Strength | 32.14 | NEUTRAL | CMU is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of CMU is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CMU is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of CMU is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 51.51 | NEUTRAL | The RSI value for CMU is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests CMU has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 52.07 | NEUTRAL | The Stochastics value for CMU is a neutral value. |
| Average True Range in percent/ATR (20) | 0.77 | LOW VOLATILITY | The low ATR as a percentage value for CMU suggests low volalility. |
| Average Directional Index/ADX (14) | 17.11 | NEGATIVE | The low ADX value for CMU suggests a weak or negative trend. |
3.36
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