BLACKROCK MUNIYIELD FUND (MYD) Stock Technical Analysis
NYSE:MYD • US09253W1045
We assign a technical rating of 7 out of 10 to MYD. Although MYD is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
- The long and short term trends are both positive. This is looking good!
- MYD is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so MYD is lagging the market slightly.
- When compared to the yearly performance of all other stocks, MYD outperforms 46% of them, which is more or less in line with the market.
- In the last month MYD has a been trading in a tight range between 10.39 and 10.82.
- Considerably lower volume is observed in the last couple of days.
MYD 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 10.78. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 10.73, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for MYD 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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When analyzing the support we can see 3 important areas.
- A support zone ranging from 10.47 to 10.73. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @10.29 from a horizontal line in the daily time frame.
- A support zone ranging from 9.66 to 9.76. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 10.78 to 10.88. 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 | UP | POSITIVE | The long term trend for MYD is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for MYD is up. |
| ChartMill Relative Strength | 46.24 | NEUTRAL | MYD is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of MYD is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of MYD is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of MYD is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 65.11 | NEUTRAL | The RSI value for MYD is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests MYD has a positive trend. |
| Stochastics (14,3) | 84.37 | OVERBOUGHT | The high Stochastics value suggests MYD may be overbought. |
| Average True Range in percent/ATR (20) | 0.98 | LOW VOLATILITY | The low ATR as a percentage value for MYD suggests low volalility. |
| Average Directional Index/ADX (14) | 12.92 | NEGATIVE | The low ADX value for MYD 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 |
|---|---|---|---|
| 10.89 | 10.59 | 0.30 (2.75%) | 25.00% |
| An entry @10.89. This is a Buy Stop order right above the resistance zone. | An exit @10.59. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.30 points, which is 2.75%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.69%. |
- 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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BLACKROCK MUNIYIELD FUND / MYD FAQ
What is the ChartMill technical rating of BLACKROCK MUNIYIELD FUND (MYD) stock?
ChartMill assigns a technical rating of 7 / 10 to MYD.
What is the current trend direction of BLACKROCK MUNIYIELD FUND (MYD) stock?
The current trend direction for BLACKROCK MUNIYIELD FUND (MYD) is Bullish.
Can you provide the RSI signal for BLACKROCK MUNIYIELD FUND?
BLACKROCK MUNIYIELD FUND (MYD) has an RSI value of 65.1063. This indicates that the stock is currently neutral.
Can you provide the short term momentum for BLACKROCK MUNIYIELD FUND?
The short term momentum for BLACKROCK MUNIYIELD FUND (MYD) is positive.
What is the buy/sell signal for MYD stock?
The buy/sell signal for BLACKROCK MUNIYIELD FUND (MYD) is buy as both the short term and long term trends are positive.