MFS HIGH INCOME MUNICIPAL TR (CXE) Stock Technical Analysis
USA - NYSE:CXE - US59318D1046
Overall CXE gets a technical rating of 7 out of 10. Although CXE is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
CXE has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 3.76. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 3.73, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for CXE in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
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3 important support areas can be observed.
- A support zone ranging from 3.65 to 3.73. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 3.49 to 3.50. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 3.40 to 3.43. This zone is formed by a combination of multiple trend lines in multiple time frames.
2 important resistance areas can be observed.
- Strong resistance @3.76 from a horizontal line in the daily time frame.
- Resistance @3.85 from a horizontal line in the daily time frame.
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 | UP | POSITIVE | The long term trend for CXE is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CXE is up. |
| ChartMill Relative Strength | 47.15 | NEUTRAL | CXE is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CXE is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CXE is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CXE is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 57.98 | NEUTRAL | The RSI value for CXE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests CXE has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 62.39 | NEUTRAL | The Stochastics value for CXE is a neutral value. |
| Average True Range in percent/ATR (20) | 1.08 | LOW VOLATILITY | The low ATR as a percentage value for CXE suggests low volalility. |
| Average Directional Index/ADX (14) | 15.2 | NEGATIVE | The low ADX value for CXE suggests a weak or negative trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 3.77 | 3.66 | 0.11 (2.92%) | 25.00% |
| An entry @3.77. This is a Buy Stop order right above the resistance zone. | An exit @3.66. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.11 points, which is 2.92%. | For a 0.73% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
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MFS HIGH INCOME MUNICIPAL TR / CXE FAQ
Can you provide the ChartMill technical rating for MFS HIGH INCOME MUNICIPAL TR?
ChartMill assigns a technical rating of 7 / 10 to CXE.
Can you provide the trend direction for MFS HIGH INCOME MUNICIPAL TR?
The current trend direction for MFS HIGH INCOME MUNICIPAL TR (CXE) is Bullish.
What is the RSI signal for MFS HIGH INCOME MUNICIPAL TR (CXE) stock?
MFS HIGH INCOME MUNICIPAL TR (CXE) has an RSI value of 57.9789. This indicates that the stock is currently neutral.
Can you provide the MACD signal for MFS HIGH INCOME MUNICIPAL TR?
The MACD indicator for MFS HIGH INCOME MUNICIPAL TR (CXE) has a value of -0.00255222, indicating a bearish trend.
Can you provide the buy/sell signal for MFS HIGH INCOME MUNICIPAL TR?
The buy/sell signal for MFS HIGH INCOME MUNICIPAL TR (CXE) is buy as both the short term and long term trends are positive.