RMMZ RiverNorth Managed Duration Municipal Income Fund II Forecast, Technical & Fundamental Analysis
Momentum Indicator for RMMZ turns positive, indicating new upward trend
RMMZ saw its Momentum Indicator move above the 0 level on November 03, 2023. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 33 similar instances where the indicator turned positive. In of the 33 cases, the stock moved higher in the following days. The odds of a move higher are at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) for RMMZ just turned positive on November 02, 2023. Looking at past instances where RMMZ's MACD turned positive, the stock continued to rise in of 14 cases over the following month. The odds of a continued upward trend are .
RMMZ moved above its 50-day moving average on November 08, 2023 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for RMMZ crossed bullishly above the 50-day moving average on November 15, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 6 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where RMMZ advanced for three days, in of 90 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 50 cases where RMMZ Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The 10-day RSI Indicator for RMMZ moved out of overbought territory on December 08, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 8 similar instances where the indicator moved out of overbought territory. In of the 8 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 8 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where RMMZ declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
RMMZ broke above its upper Bollinger Band on December 07, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.