Nuveen California AMT-Free Municipal Stock Forecast
Green day on Friday for Nuveen California AMT-Free Municipal stock after gaining 0.679%
(Updated on May 03, 2024)
The Nuveen California AMT-Free Municipal stock price gained 0.679% on the last trading day (Friday, 3rd May 2024), rising from $11.78 to $11.86. 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 1.03% from a day low at $11.83 to a day high of $11.95. The price has been going up and down for this period, and there has been a -0.92% loss for the last 2 weeks. Volume fell on the last day by -9 thousand shares and in total, 79 thousand shares were bought and sold for approximately $932.47 thousand. 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 weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.18% during the next 3 months and, with a 90% probability hold a price between $12.16 and $12.94 at the end of this 3-month period.
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NKX Signals & Forecast
There are mixed signals in the stock today. The Nuveen California AMT-Free Municipal 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 $11.90. On a fall, the stock will find some support from the short-term average at $11.71. 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). 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. A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 1.98%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Nuveen California AMT-Free Municipal stock
Nuveen California AMT-Free Municipal finds support from accumulated volume at $11.76 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 $0.122 between high and low, or 1.03%. For the last week the stock has had daily average volatility of 0.755%
Our recommended stop-loss: $11.29 (-4.81%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (NKX) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Nuveen California AMT-Free Municipal Income Fund to open at $11.88, and during the day (based on 14 day Average True Range), to move between $11.72 and $12.00, which gives a possible trading interval of +/-$0.136 (+/-1.14%) up or down from last closing price. If Nuveen California AMT-Free Municipal Income Fund takes out the full calculated possible swing range there will be an estimated 2.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.94 (0.67%) than the support at $11.76 (0.84%), 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 California AMT-Free Municipal Income Fund stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Nuveen California AMT-Free Municipal stock to perform well in the short-term.
Current score: 2.499 Buy Candidate Unchanged
Predicted Opening Price for Nuveen California AMT-Free Municipal Income Fund of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $11.88 ( 0.162%) | $11.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NKX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.00 | 1.19 % | |
| R2 | 11.95 | 0.799 % | ||
| R1 | 11.93 | 0.556 % | ||
| Current price: | 11.86 | |||
| Support | S1 | 11.83 | -0.231 % | |
| S2 | 11.80 | -0.474 % | ||
| S3 | 11.76 | -0.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.15 | 2.45 % | |
| R2 | 12.03 | 1.43 % | ||
| R1 | 11.94 | 0.675 % | ||
| Current price | 11.86 | |||
| Support | S1 | 11.76 | -0.84% | |
| S2 | 11.69 | -1.43% | ||
| S3 | 11.57 | -2.45% |
NKX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 12, 2024 | May 01, 2024 | $0.0510 | 0.435% |
| 2 | Mar 01, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.0510 | 0.417% |
| 3 | Feb 01, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.0455 | 0.395% |
| 4 | Jan 02, 2024 | Jan 11, 2024 | Feb 01, 2024 | $0.0455 | 0.391% |
| 5 | Dec 01, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.0455 | 0.394% |
FAQ
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