Nuveen California Municipal Value Fund Stock Forecast

Green day on Tuesday for Nuveen California Municipal Value Fund stock after gaining 0.692%
(Updated on Apr 23, 2024)

NCA Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 1.39%. Further rise is indicated until a new top pivot has been found. Nuveen California Municipal Value Fund has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Nuveen California Municipal Value 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 $8.84. On a fall, the stock will find some support from the short-term average at $8.66. 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).

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Monday, April 01, 2024 and based on theory for this formation the price should fall by -3.04% to $8.47 within 40 trading days since signal was issued (Wednesday, April 24, 2024).

Support, Risk & Stop-loss for Nuveen California Municipal Value Fund stock

Nuveen California Municipal Value Fund finds support from accumulated volume at $8.67 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 $0.140 between high and low, or 1.62%. For the last week the stock has had daily average volatility of 1.15%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (NCA) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect Nuveen California Municipal Value Fund Inc to open at $8.73, and during the day (based on 14 day Average True Range), to move between $8.63 and $8.83, which gives a possible trading interval of +/-$0.102 (+/-1.16%) up or down from last closing price. If Nuveen California Municipal Value Fund Inc takes out the full calculated possible swing range there will be an estimated 2.33% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $8.67 (0.69%) than the resistance at $8.86 (1.49%), 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 California Municipal Value Fund Inc stock A Buy?

Nuveen California Municipal Value 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: -1.048 Sell Candidate Unchanged

Predicted Opening Price for Nuveen California Municipal Value Fund Inc of Wednesday, April 24, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.