Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Forecast
Stronger technical forecast for Nuveen NASDAQ 100 Dynamic Overwrite Fund stock price after Friday trading.
(Updated on May 17, 2024)
The Nuveen NASDAQ 100 Dynamic Overwrite Fund stock price fell by -0.209% on the last day (Friday, 17th May 2024) from $23.90 to $23.85. During the last trading day the stock fluctuated 0.588% from a day low at $23.80 to a day high of $23.94. The price has fallen in 6 of the last 10 days but is still up by 1.84% over the past 2 weeks. 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 -37 thousand shares and in total, 45 thousand shares were bought and sold for approximately $1.07 million.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $23.98 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.36% during the next 3 months and, with a 90% probability hold a price between $21.72 and $23.41 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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QQQX Signals & Forecast
The Nuveen NASDAQ 100 Dynamic Overwrite Fund stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $23.78 and $23.40. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -0.625%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Nuveen NASDAQ 100 Dynamic Overwrite Fund stock
Nuveen NASDAQ 100 Dynamic Overwrite Fund finds support from accumulated volume at $23.81 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.140 between high and low, or 0.588%. For the last week the stock has had daily average volatility of 0.732%.
Our recommended stop-loss: $22.95 (-3.79%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (QQQX) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Nuveen NASDAQ 100 Dynamic Overwrite Fund to open at $23.86, and during the day (based on 14 day Average True Range), to move between $23.61 and $24.09, which gives a possible trading interval of +/-$0.245 (+/-1.03%) up or down from last closing price. If Nuveen NASDAQ 100 Dynamic Overwrite Fund takes out the full calculated possible swing range there will be an estimated 2.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $23.88 (0.13%) than the support at $23.81 (0.17%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Nuveen NASDAQ 100 Dynamic Overwrite Fund stock A Buy?
Nuveen NASDAQ 100 Dynamic Overwrite Fund holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.214 Hold/Accumulate Upgraded
Predicted Opening Price for Nuveen NASDAQ 100 Dynamic Overwrite Fund of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $23.86 ( 0.0559%) | $23.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QQQX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.00 | 0.643 % | |
| R2 | 23.95 | 0.419 % | ||
| R1 | 23.92 | 0.280 % | ||
| Current price: | 23.85 | |||
| Support | S1 | 23.81 | -0.168 % | |
| S2 | 23.78 | -0.307 % | ||
| S3 | 23.72 | -0.531 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.00 | 0.629 % | |
| R2 | 23.89 | 0.168 % | ||
| R1 | 23.88 | 0.126 % | ||
| Current price | 23.85 | |||
| Support | S1 | 23.81 | -0.168% | |
| S2 | 23.45 | -1.68% | ||
| S3 | 22.86 | -4.15% |
QQQX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 14, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.420 | 1.74% |
| 2 | Dec 01, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.420 | 1.81% |
| 3 | Sep 01, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.420 | 1.86% |
| 4 | Jun 01, 2023 | Jun 14, 2023 | Jul 03, 2023 | $0.420 | 1.67% |
| 5 | Mar 01, 2023 | Mar 14, 2023 | Apr 03, 2023 | $0.420 | 1.76% |
FAQ
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