Nuveen New York AMT-Free Municipal Stock Forecast
Nuveen New York AMT-Free Municipal stock downgraded to Sell Candidate
(Updated on Apr 26, 2024)
No changes to the price of Nuveen New York AMT-Free Municipal stock on the last trading day (Friday, 26th Apr 2024). During the last trading day the stock fluctuated 0.566% from a day low at $10.60 to a day high of $10.66. The price has risen in 7 of the last 10 days but is still down by -0.28% for this period.
The stock is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $10.51 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Nuveen New York AMT-Free Municipal stock with a 90% probability to be traded between $10.41 and $10.93 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NRK Signals & Forecast
There are mixed signals in the stock today. The Nuveen New York AMT-Free Municipal stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $10.63 and $10.81. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 0.760%. 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). The stock had a Golden Star Signal on Tuesday, July 18, 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 Tuesday, July 18, 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 AMT-Free Municipal stock
Nuveen New York AMT-Free Municipal finds support from accumulated volume at $10.55 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 $0.0600 between high and low, or 0.566%. For the last week the stock has had daily average volatility of 0.679%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NRK) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Nuveen New York AMT-Free Municipal Income Fund to open at $10.62, and during the day (based on 14 day Average True Range), to move between $10.52 and $10.68, which gives a possible trading interval of +/-$0.0829 (+/-0.78%) up or down from last closing price. If Nuveen New York AMT-Free Municipal Income Fund takes out the full calculated possible swing range there will be an estimated 1.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.55 (0.47%) than the resistance at $10.76 (1.51%), 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 New York AMT-Free Municipal Income Fund stock A Buy?
Nuveen New York AMT-Free Municipal 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.224 Sell Candidate Downgraded
Predicted Opening Price for Nuveen New York AMT-Free Municipal Income Fund of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$10.62 ( 0.189%) | $10.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NRK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.68 | 0.755 % | |
R2 | 10.66 | 0.538 % | ||
R1 | 10.64 | 0.405 % | ||
Current price: | 10.60 | |||
Support | S1 | 10.60 | -0.0275 % | |
S2 | 10.58 | -0.161 % | ||
S3 | 10.56 | -0.377 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.84 | 2.26 % | |
R2 | 10.82 | 2.08 % | ||
R1 | 10.76 | 1.51 % | ||
Current price | 10.60 | |||
Support | S1 | 10.55 | -0.472% | |
S2 | 10.54 | -0.566% | ||
S3 | 10.52 | -0.755% |
NRK Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 01, 2024 | Apr 12, 2024 | May 01, 2024 | $0.0465 | 0.438% |
2 | Mar 01, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.0465 | 0.431% |
3 | Feb 01, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.0410 | 0.379% |
4 | Jan 02, 2024 | Jan 11, 2024 | Feb 01, 2024 | $0.0410 | 0.379% |
5 | Dec 01, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.0410 | 0.389% |
FAQ
Click here for our free guide on how to buy Nuveen New York AMT-Free Municipal Income Fund Stock.