Nuveen S&P 500 Buy-Write Income Fund Stock Forecast
Nuveen S&P 500 Buy-Write Income Fund stock price down 0.227% on Friday
(Updated on Jun 21, 2024)
The Nuveen S&P 500 Buy-Write Income Fund stock price fell by -0.227% on the last day (Friday, 21st Jun 2024) from $13.22 to $13.19. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 0.722% from a day low at $13.17 to a day high of $13.26. The price has fallen in 6 of the last 10 days and is down by -1.49% 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 -9 thousand shares and in total, 157 thousand shares were bought and sold for approximately $2.07 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.60% during the next 3 months and, with a 90% probability hold a price between $13.26 and $14.04 at the end of this 3-month period.
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BXMX Signals & Forecast
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. The Nuveen S&P 500 Buy-Write Income Fund stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $13.33 and $13.21. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 13, 2024, and so far it has fallen -2.37%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Nuveen S&P 500 Buy-Write Income Fund stock
Nuveen S&P 500 Buy-Write Income Fund finds support from accumulated volume at $13.16 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0950 between high and low, or 0.722%. For the last week the stock has had daily average volatility of 0.81%.
Our recommended stop-loss: $12.63 (-4.22%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (BXMX) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Nuveen S&P 500 Buy-Write Income Fund to open at $13.21, and during the day (based on 14 day Average True Range), to move between $13.07 and $13.31, which gives a possible trading interval of +/-$0.122 (+/-0.92%) up or down from last closing price. If Nuveen S&P 500 Buy-Write Income Fund takes out the full calculated possible swing range there will be an estimated 1.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.16 (0.23%) than the resistance at $13.24 (0.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Nuveen S&P 500 Buy-Write Income Fund stock A Buy?
Nuveen S&P 500 Buy-Write Income Fund 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.
Current score: -0.930 Hold/Accumulate Unchanged
Predicted Opening Price for Nuveen S&P 500 Buy-Write Income Fund of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $13.21 ( 0.114%) | $13.19 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BXMX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.30 | 0.83% |
| R2 | 13.26 | 0.559% |
| R1 | 13.24 | 0.389% |
| Price | 13.19 | |
| S1 | 13.17 | -0.161% |
| S2 | 13.15 | -0.331% |
| S3 | 13.11 | -0.607% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.38 | 1.44% |
| R2 | 13.32 | 0.99% |
| R1 | 13.24 | 0.379% |
| Price | 13.19 | |
| S1 | 13.16 | -0.227% |
| S2 | 13.11 | -0.607% |
| S3 | 13.04 | -1.14% |
BXMX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 14, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.237 | 1.79% |
| 2 | Dec 01, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.237 | 1.84% |
| 3 | Sep 01, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.237 | 1.88% |
| 4 | Jun 01, 2023 | Jun 14, 2023 | Jul 03, 2023 | $0.237 | 1.77% |
| 5 | Mar 01, 2023 | Mar 14, 2023 | Apr 03, 2023 | $0.237 | 1.79% |
FAQ
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