Breakout Stocks of Week 16 @ NYSEMKT
NASDAQ fell hard last week and was down all -5.52% ending at 15,282.01 points after ending the week prior at 16,175.09 points. The sharp fall could pose a good buying opportunity. Our system has detected some possible breakout stocks for the following week and these should be on your watchlist. These are the stocks that are bouncing up with good increase in volume and are likely to do good in short term. One of these stocks are Cornerstone Strategic Value Fund, Inc NYSEMKT:CLM. This stock has had a buy signal since Apr 17, 2024 when the price was $7.18 , but have so far fallen -0.139% to $7.17. Some other companies are on our watchlist to, among these are Cornerstone Total Return Fund, Inc NYSEMKT:CRF and Nuveen Enhanced Municipal Credit Opportunities Fund NYSEMKT:NZF which all got a breakout pattern emerging.
| Date | Company | Price | Week 16 |
|---|---|---|---|
| Cornerstone Strategic Value Fund, Inc | $7.17 | $7.30 | 1.81% |
| Cornerstone Total Return Fund, Inc | $7.21 | $7.42 | 2.91% |
| Nuveen Enhanced Municipal Credit Opportunities Fun... | $11.76 | $11.70 | -0.510% |
The Cornerstone Strategic Value Fund, Inc stock price fell by -0.83% on the last day (Friday, 19th Apr 2024) from $7.23 to $7.17. During the last trading day the stock fluctuated 1.97% from a day low at $7.11 to a day high of $7.25. The price has been going up and down for this period, and there has been a -6.27% loss for the last 2 weeks. Volume has increased on the last day by 474 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately $11.15 million.
Cornerstone Strategic Value Fund, Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About Cornerstone Strategic Value Fund, Inc:
Cornerstone Strategic Value Fund, Inc. is a closed-ended equity mutual fund launched and managed by Cornerstone Advisors, Inc. The fund invests in public equity markets across the globe. It seeks to invest in stocks of companies operating across diversified sectors. The fund primarily invests in value and growth stocks of companies. It also invests through other closed-end investment companies and ETF's. Cornerstone Strategic Value Fund, Inc. was formed on May 1, 1987 and is domiciled in the United States.
The Cornerstone Total Return Fund, Inc stock price fell by -0.689% on the last day (Friday, 19th Apr 2024) from $7.26 to $7.21. During the last trading day the stock fluctuated 1.82% from a day low at $7.16 to a day high of $7.29. The price has risen in 5 of the last 10 days but is still down by -6.12% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -142 thousand shares and in total, 664 thousand shares were bought and sold for approximately $4.79 million.
Cornerstone Total Return Fund, Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About Cornerstone Total Return Fund, Inc:
Cornerstone Total Return Fund, Inc. is a closed-ended equity mutual fund launched and managed by Cornerstone Advisors, Inc. It invests in the public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in value and growth stocks of companies across all market capitalizations. The fund also invests through other closed-end investment companies and ETFs. It benchmarks the performance of its portfolio against the S&P 500 Index. Cornerstone Total Return Fund, Inc. was formed on March 16, 1973 and is domiciled in the United States.
Nuveen Enhanced Municipal Credit Opportunities Fund
NYSEMKT:NZFNo changes to the price of Nuveen Enhanced Municipal Credit stock on the last trading day (Friday, 19th Apr 2024). During the last trading day the stock fluctuated 0.681% from a day low at $11.75 to a day high of $11.83. The price has been going up and down for this period, and there has been a -1.51% loss for the last 2 weeks.
Nuveen Enhanced Municipal Credit holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
About Nuveen Enhanced Municipal Credit Opportunities Fund:
Nuveen Municipal Credit Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc. The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of the United States. The fund invests in undervalued municipal securities and other related investments the income from which is exempt from regular federal income taxes. It seeks to invest in investment grade securities rated Baa/BBB or better with an average maturity of around 18 years. The fund employs fundamental analysis with a focus on bottom-up stock picking approach to create its portfolio. It benchmarks the performance of its portfolio against Standard & Poor's (S&P) National Municipal Bond Index. It was formerly known as Nuveen Enhanced Municipal Credit Opportunities Fund. Nuveen Municipal Credit Income Fund was formed on March 21, 2001 and is domiciled in the United States.
Despite these candidates are looking good from a technical perspective they may not perform as expected. You should always be cautious when trading and base your decisions on more than one source of information. This does not constitute an offer or recommendation to buy or sell securities.
