MFS Municipal Income Technical Analysis (NYSE:MFM)
Technical analysis is the study of Price and volume data through technical charts. This analysis does not take into account the intrinsic value of a stock. Just by looking at the MFS Municipal Income Price one can't take a trading decision. A trader needs to find a chart pattern, which is a clear cut pattern formation on the MFM Chart which creates a trading signal.
See MFS Municipal Income bollinger bands, SMA - 200 day moving average, 50 day moving average and exponential moving averages. The technical analysis form of MFS Municipal Income Analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
MFS Municipal Income Moving Average
Moving averages show the average price of MFM stock over a set time period and help traders see the overall trend by smoothening out the daily variation in price movement. A key factor that impacts moving averages is the lag factor. The 20 day moving average of $6.52 is above the price of $6.48.
MFS Municipal Income Bollinger Bands
Bollinger bands consist of two price bands above and below a center line for any company stock like MFS Municipal Income. The tightening of bands is considered by most traders to be a precursor to sudden increase in volatility. MFS Municipal Income bollinger bands show that the Price is $6.48, upper band is 6.6, lower band is 6.45, and the average is 6.52.
MFS Municipal Income Moving Average Convergence Divergence or MACD
The moving average convergence divergence or MACD is a technical indicator which helps assess the Price trend. Traders usually wait for a confirmed crossover signal before entering into a trading position. Divergence implies that the current Price trend could come to an end, when the Price diverges from MACD. The MFS Municipal Income MACD line is above the signal line.
MFS Municipal Income Relative Strength Index
The relative strength index compares the magnitude of recent gains to recent losses and is a momentum indicator. It attempts to assess overbought and oversold conditions of a stock. The relative strength index of MFM stock is 39.88.