Nuveen Minnesota Municipal Income Fund 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
Red day on Friday for Nuveen Minnesota Municipal Income Fund stock after losing 0.173%
(Updated on May 17, 2024)
The Nuveen Minnesota Municipal Income Fund stock price fell by -0.173% on the last day (Friday, 17th May 2024) from $10.98 to $10.96. During the last trading day the stock fluctuated 0.356% from a day low at $10.96 to a day high of $11.00. The price has been going up and down for this period, and there has been a 0.84% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -6 thousand shares and in total, 2 thousand shares were bought and sold for approximately $20.18 thousand.
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 -4.22% during the next 3 months and, with a 90% probability hold a price between $10.19 and $10.58 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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NMS Signals & Forecast
The Nuveen Minnesota Municipal Income Fund stock 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 $10.96 and $10.93. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 1.87%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Nuveen Minnesota Municipal Income Fund stock
Nuveen Minnesota Municipal Income 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 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 $0.0390 between high and low, or 0.356%. For the last week the stock has had daily average volatility of 0.309%
Our recommended stop-loss: $10.37 (-5.39%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (NMS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Nuveen Minnesota Municipal Income Fund to open at $10.97, and during the day (based on 14 day Average True Range), to move between $10.90 and $11.03, which gives a possible trading interval of +/-$0.0642 (+/-0.59%) up or down from last closing price. If Nuveen Minnesota Municipal Income Fund takes out the full calculated possible swing range there will be an estimated 1.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.97 (0.08%) than the support at $10.89 (0.65%), 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 Minnesota Municipal Income 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.
Current score: 1.399 Buy Candidate Unchanged
Predicted Opening Price for Nuveen Minnesota Municipal Income Fund of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $10.97 ( 0.119%) | $10.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NMS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.01 | 0.474 % | |
| R2 | 11.00 | 0.338 % | ||
| R1 | 10.99 | 0.255 % | ||
| Current price: | 10.96 | |||
| Support | S1 | 10.96 | -0.0173 % | |
| S2 | 10.95 | -0.101 % | ||
| S3 | 10.94 | -0.237 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.24 | 2.55 % | |
| R2 | 10.99 | 0.265 % | ||
| R1 | 10.97 | 0.0821 % | ||
| Current price | 10.96 | |||
| Support | S1 | 10.89 | -0.649% | |
| S2 | 10.87 | -0.83% | ||
| S3 | 10.76 | -1.83% |
NMS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 14, 2024 | Jun 03, 2024 | $0.0500 | 0.456% |
| 2 | Apr 01, 2024 | Apr 12, 2024 | May 01, 2024 | $0.0500 | 0.463% |
| 3 | Mar 14, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.0500 | 0.445% |
| 4 | Feb 01, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.0410 | 0.367% |
| 5 | Jan 02, 2024 | Jan 11, 2024 | Feb 01, 2024 | $0.0410 | 0.365% |
FAQ
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