What’s MainStay DefinedTerm Municipal Opportunities Fund (MMD) Upside After Forming Wedge Up?

July 14, 2018 - By Adrian Erickson

Investors sentiment decreased to 1.6 in 2018 Q1. Its down 0.78, from 2.38 in 2017Q4. It fall, as 1 investors sold MainStay DefinedTerm Municipal Opportunities Fund shares while 9 reduced holdings. 3 funds opened positions while 13 raised stakes. 3.59 million shares or 2.80% more from 3.49 million shares in 2017Q4 were reported.
Stifel holds 0% or 36,234 shares in its portfolio. 500,365 are held by Raymond James And Associate. Northwestern Mutual Wealth Management has invested 0.01% in MainStay DefinedTerm Municipal Opportunities Fund (NYSE:MMD). Janney Montgomery Scott Ltd Company holds 27,302 shares. Usca Ria Limited Liability stated it has 0.17% in MainStay DefinedTerm Municipal Opportunities Fund (NYSE:MMD). 15,600 were reported by Summit Finance Wealth Advisors. Advsr Asset Management Incorporated reported 215,140 shares. State Bank Of America De invested 0% in MainStay DefinedTerm Municipal Opportunities Fund (NYSE:MMD). Advisory Services Net Ltd Liability has 0.05% invested in MainStay DefinedTerm Municipal Opportunities Fund (NYSE:MMD). Van Eck Corp invested in 58,562 shares. Pnc Fincl Svcs Grp reported 0% in MainStay DefinedTerm Municipal Opportunities Fund (NYSE:MMD). Lpl Fincl Limited Liability Corp accumulated 19,924 shares. Morgan Stanley holds 0% or 592,590 shares. 667 are held by Sei Investments Communication. Ameriprise Fincl has 0% invested in MainStay DefinedTerm Municipal Opportunities Fund (NYSE:MMD).

The stock of MainStay DefinedTerm Municipal Opportunities Fund (MMD) formed an up wedge with $20.28 target or 4.00 % above today’s $19.50 share price. The 6 months wedge indicates low risk for the $ company. If the $20.28 price target is reached, the company will be worth $ more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.70% or $0.14 during the last trading session, reaching $19.5. About 68,304 shares traded or 24.76% up from the average. MainStay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) has declined 0.15% since July 14, 2017 and is downtrending. It has underperformed by 12.72% the S&P500.

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