Nuveen New York Dividend Advantage 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
Stronger technical forecast for Nuveen New York Dividend Advantage stock price after Tuesday trading.
(Updated on May 07, 2024)
The Nuveen New York Dividend Advantage stock price gained 0.185% on the last trading day (Tuesday, 7th May 2024), rising from $10.81 to $10.83. 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 0.742% from a day low at $10.78 to a day high of $10.86. The price has risen in 6 of the last 10 days and is up by 1.69% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 195 thousand more shares were traded than the day before. In total, 226 thousand shares were bought and sold for approximately $2.45 million.
Given the current short-term trend, the stock is expected to fall -3.09% during the next 3 months and, with a 90% probability hold a price between $10.21 and $10.49 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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NAN Signals & Forecast
Mostly positive signals in the chart today. The Nuveen New York Dividend Advantage stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $10.72 and $10.79. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 2.36%. 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). 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, July 17, 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, July 17, 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 New York Dividend Advantage stock
Nuveen New York Dividend Advantage finds support from accumulated volume at $10.74 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 $0.0800 between high and low, or 0.742%. For the last week the stock has had daily average volatility of 0.541%.
Our recommended stop-loss: $10.29 (-5.03%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (NAN) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Nuveen New York Dividend Advantage Municipal Fund to open at $10.82, and during the day (based on 14 day Average True Range), to move between $10.77 and $10.89, which gives a possible trading interval of +/-$0.0626 (+/-0.58%) up or down from last closing price. If Nuveen New York Dividend Advantage Municipal Fund takes out the full calculated possible swing range there will be an estimated 1.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.92 (0.83%) than the support at $10.74 (0.83%), 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 New York Dividend Advantage Municipal Fund stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.504 Buy Candidate Upgraded
Predicted Opening Price for Nuveen New York Dividend Advantage Municipal Fund of Wednesday, May 8, 2024
Fair opening price May 8, 2024 | Current price |
---|---|
$10.82 ( 0.0616%) | $10.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NAN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.90 | 0.677 % | |
R2 | 10.87 | 0.395 % | ||
R1 | 10.85 | 0.221 % | ||
Current price: | 10.83 | |||
Support | S1 | 10.79 | -0.344 % | |
S2 | 10.77 | -0.518 % | ||
S3 | 10.74 | -0.80 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.97 | 1.29 % | |
R2 | 10.94 | 1.02 % | ||
R1 | 10.92 | 0.83 % | ||
Current price | 10.83 | |||
Support | S1 | 10.74 | -0.83% | |
S2 | 10.69 | -1.29% | ||
S3 | 10.65 | -1.66% |
NAN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 14, 2024 | May 14, 2024 | Jun 03, 2024 | $0.0485 | 0.447% |
2 | Apr 12, 2024 | Apr 12, 2024 | May 01, 2024 | $0.0485 | 0.455% |
3 | Mar 14, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.0485 | 0.442% |
4 | Feb 01, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.0430 | 0.393% |
5 | Jan 02, 2024 | Jan 11, 2024 | Feb 01, 2024 | $0.0430 | 0.387% |
FAQ
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