Nuveen Municipal Credit Opportunities Trust Forecast
Nuveen Municipal Credit Opportunities trust price up 0.91% on Friday
(Updated on Jun 28, 2024)
The Nuveen Municipal Credit Opportunities trust price gained 0.91% on the last trading day (Friday, 28th Jun 2024), rising from $10.93 to $11.03. During the last trading day the trust fluctuated 0.96% from a day low at $10.94 to a day high of $11.05. The price has fallen in 6 of the last 10 days but is still up by 0.27% 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, 55 thousand more shares were traded than the day before. In total, 298 thousand shares were bought and sold for approximately $3.28 million.
The trust lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the trust is expected to rise 8.20% during the next 3 months and, with a 90% probability hold a price between $11.54 and $12.09 at the end of this 3-month period.
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NMCO Signals & Forecast
The Nuveen Municipal Credit Opportunities trust holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $10.99 and $10.75. A breakdown below any of these levels will issue sell signals. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -0.451%. Further fall is indicated until a new bottom pivot has been found. The trust had a Golden Star Signal on Thursday, January 04, 2024 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 trust in question.
Golden Star 12 Months
The trust had a Golden Star Signal on Thursday, January 04, 2024 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 trust in question.
Support, Risk & Stop-loss for Nuveen Municipal Credit Opportunities trust
Nuveen Municipal Credit Opportunities finds support from accumulated volume at $10.48 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the trust tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the trust moved $0.105 between high and low, or 0.96%. For the last week the trust has had daily average volatility of 0.92%.
Our recommended stop-loss: $10.63 (-3.67%) (This trust has low daily movements and this gives low risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (NMCO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Nuveen Municipal Credit Opportunities Fund to open at $11.01, and during the day (based on 14 day Average True Range), to move between $10.91 and $11.15, which gives a possible trading interval of +/-$0.117 (+/-1.06%) up or down from last closing price. If Nuveen Municipal Credit Opportunities Fund takes out the full calculated possible swing range there will be an estimated 2.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.04 (0.09%) than the support at $10.48 (4.99%), 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 Municipal Credit Opportunities Fund trust 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 Municipal Credit Opportunities trust to perform well in the short-term.
Current score: 3.702 Buy Candidate Unchanged
Predicted Opening Price for Nuveen Municipal Credit Opportunities Fund of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
$11.01 ( 0.227%) | $11.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NMCO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 11.11 | 0.725% |
R2 | 11.07 | 0.362% |
R1 | 11.05 | 0.137% |
Price | 11.03 | |
S1 | 10.96 | -0.590% |
S2 | 10.94 | -0.81% |
S3 | 10.90 | -1.18% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 11.08 | 0.453% |
R2 | 11.05 | 0.181% |
R1 | 11.04 | 0.0907% |
Price | 11.03 | |
S1 | 10.48 | -4.99% |
S2 | 10.32 | -6.44% |
S3 | 10.22 | -7.34% |
FAQ
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