Nuveen Dividend Advantage Municipal Fund Stock Forecast
Nuveen Dividend Advantage Municipal Fund stock upgraded to Hold/Accumulate.
(Updated on Apr 30, 2024)
No changes to the price of Nuveen Dividend Advantage Municipal Fund stock on the last trading day (Tuesday, 30th Apr 2024). During the last trading day the stock fluctuated 0.469% from a day low at $10.88 to a day high of $10.93. The price has risen in 5 of the last 10 days but is still down by -0.09% for this period.
The stock lies in the middle of a narrow and 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 -3.37% during the next 3 months and, with a 90% probability hold a price between $10.47 and $10.94 at the end of this 3-month period.
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NAD Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 0.737%. Further rise is indicated until a new top pivot has been found. The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Nuveen Dividend Advantage Municipal 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 $11.16. On a fall, the stock will find some support from the short-term average at $10.92. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Nuveen Dividend Advantage Municipal Fund stock
Nuveen Dividend Advantage Municipal Fund finds support from accumulated volume at $10.89 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 $0.0510 between high and low, or 0.469%. For the last week the stock has had daily average volatility of 0.514%.
Our recommended stop-loss: $10.28 (-5.97%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (NAD) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Nuveen Dividend Advantage Municipal Fund to open at $10.91, and during the day (based on 14 day Average True Range), to move between $10.85 and $11.01, which gives a possible trading interval of +/-$0.0831 (+/-0.76%) up or down from last closing price. If Nuveen Dividend Advantage Municipal Fund takes out the full calculated possible swing range there will be an estimated 1.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.94 (0.09%) than the support at $10.89 (0.37%), 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 Dividend Advantage Municipal Fund stock A Buy?
Nuveen Dividend Advantage Municipal 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: -0.858 Hold/Accumulate Upgraded
Predicted Opening Price for Nuveen Dividend Advantage Municipal Fund of Wednesday, May 1, 2024
Fair opening price May 1, 2024 | Current price |
---|---|
$10.91 ( 0.156%) | $10.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NAD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.96 | 0.311 % | |
R2 | 10.94 | 0.133 % | ||
R1 | 10.93 | 0.0227 % | ||
Current price: | 10.93 | |||
Support | S1 | 10.89 | -0.334 % | |
S2 | 10.88 | -0.444 % | ||
S3 | 10.86 | -0.622 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.33 | 3.66 % | |
R2 | 11.31 | 3.48 % | ||
R1 | 10.94 | 0.0915 % | ||
Current price | 10.93 | |||
Support | S1 | 10.89 | -0.366% | |
S2 | 10.85 | -0.732% | ||
S3 | 0 | . |
NAD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 01, 2024 | Apr 12, 2024 | May 01, 2024 | $0.0520 | 0.476% |
2 | Mar 14, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.0520 | 0.459% |
3 | Feb 01, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.0440 | 0.389% |
4 | Jan 02, 2024 | Jan 11, 2024 | Feb 01, 2024 | $0.0440 | 0.385% |
5 | Dec 01, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.0440 | 0.384% |
FAQ
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