Nuveen S&P 500 Buy-Write Income Fund Stock Forecast
Nuveen S&P 500 Buy-Write Income Fund stock price up 0.86% on Friday
(Updated on May 03, 2024)
The Nuveen S&P 500 Buy-Write Income Fund stock price gained 0.86% on the last trading day (Friday, 3rd May 2024), rising from $12.77 to $12.88. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.389% from a day low at $12.85 to a day high of $12.90. The price has risen in 8 of the last 10 days and is up by 3.29% over the past 2 weeks. Volume fell on the last day by -59 thousand shares and in total, 91 thousand shares were bought and sold for approximately $1.17 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.97% during the next 3 months and, with a 90% probability hold a price between $11.89 and $12.51 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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BXMX Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.29%. Further rise is indicated until a new top pivot has been found. 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 a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $12.89. On a fall, the stock will find some support from the short-term average at $12.73. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
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 $12.80 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 therefore the general risk is considered very 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 $0.0500 between high and low, or 0.389%. For the last week the stock has had daily average volatility of 0.717%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BXMX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Nuveen S&P 500 Buy-Write Income Fund to open at $12.88, and during the day (based on 14 day Average True Range), to move between $12.75 and $13.01, which gives a possible trading interval of +/-$0.127 (+/-0.98%) 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 1.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $12.80 (0.62%) than the resistance at $13.04 (1.24%), 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 we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.992 Sell Candidate Unchanged
Predicted Opening Price for Nuveen S&P 500 Buy-Write Income Fund of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $12.88 ( 0.0259%) | $12.88 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 12.93 | 0.362 % | |
| R2 | 12.91 | 0.214 % | ||
| R1 | 12.90 | 0.122 % | ||
| Current price: | 12.88 | |||
| Support | S1 | 12.86 | -0.174 % | |
| S2 | 12.85 | -0.266 % | ||
| S3 | 12.83 | -0.414 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.24 | 2.80 % | |
| R2 | 13.22 | 2.64 % | ||
| R1 | 13.04 | 1.24 % | ||
| Current price | 12.88 | |||
| Support | S1 | 12.80 | -0.621% | |
| S2 | 12.69 | -1.48% | ||
| S3 | 12.66 | -1.71% |
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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