Nuveen Floating Rate Income Fund Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Nuveen Floating Rate Income Fund stock price ended at $8.59 on Friday, after gaining 0.233%.
(Updated on Apr 26, 2024)
The Nuveen Floating Rate Income Fund stock price gained 0.233% on the last trading day (Friday, 26th Apr 2024), rising from $8.57 to $8.59. During the last trading day the stock fluctuated 0.583% from a day low at $8.58 to a day high of $8.63. The price has risen in 7 of the last 10 days but is still down by -0.58% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 695 more shares were traded than the day before. In total, 315 thousand shares were bought and sold for approximately $2.71 million.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Nuveen Floating Rate Income Fund stock with a 90% probability to be traded between $8.63 and $8.99 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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JFR Signals & Forecast
The Nuveen Floating Rate Income Fund stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $8.60 and $8.65. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 1.66%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Monday, December 04, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, December 04, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Nuveen Floating Rate Income Fund stock
Nuveen Floating Rate Income Fund finds support from accumulated volume at $8.53 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 $0.0500 between high and low, or 0.583%. For the last week the stock has had daily average volatility of 0.688%.
Our recommended stop-loss: $8.09 (-5.86%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (JFR) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Nuveen Floating Rate Income Fund to open at $8.60, and during the day (based on 14 day Average True Range), to move between $8.52 and $8.66, which gives a possible trading interval of +/-$0.0740 (+/-0.86%) up or down from last closing price. If Nuveen Floating Rate Income Fund takes out the full calculated possible swing range there will be an estimated 1.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.63 (0.47%) than the support at $8.53 (0.70%), 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 Floating Rate Income Fund stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 1.585 Buy Candidate Unchanged
Predicted Opening Price for Nuveen Floating Rate Income Fund of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$8.60 ( 0.116%) | $8.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JFR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.65 | 0.698 % | |
R2 | 8.63 | 0.476 % | ||
R1 | 8.62 | 0.339 % | ||
Current price: | 8.59 | |||
Support | S1 | 8.58 | -0.106 % | |
S2 | 8.57 | -0.243 % | ||
S3 | 8.55 | -0.466 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.68 | 1.05 % | |
R2 | 8.65 | 0.698 % | ||
R1 | 8.63 | 0.466 % | ||
Current price | 8.59 | |||
Support | S1 | 8.53 | -0.698% | |
S2 | 8.46 | -1.51% | ||
S3 | 8.45 | -1.63% |
JFR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 01, 2024 | Apr 12, 2024 | May 01, 2024 | $0.0850 | 0.99% |
2 | Mar 14, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.0850 | 0.97% |
3 | Feb 01, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.0850 | 0.98% |
4 | Jan 02, 2024 | Jan 11, 2024 | Feb 01, 2024 | $0.0850 | 1.00% |
5 | Dec 01, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.0850 | 1.03% |
FAQ
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