Nuveen ESG Emerging Markets Equity ETF Forecast

Nuveen ESG Emerging Markets Equity ETF price ended at $29.09 on Friday, after gaining 0.657%.
(Updated on May 17, 2024)

NUEM Signals & Forecast

The Nuveen ESG Emerging Markets Equity ETF 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 $28.51 and $27.62. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 9.82%. 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 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. The ETF had a Golden Star Signal on Friday, December 22, 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 ETF in question.

Support, Risk & Stop-loss for Nuveen ESG Emerging Markets Equity ETF

Nuveen ESG Emerging Markets Equity finds support from accumulated volume at $27.82 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the ETF tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the ETF. During the last day, the ETF moved $0.210 between high and low, or 0.725%. For the last week the ETF has had daily average volatility of 1.03%.

Our recommended stop-loss: $27.75 (-4.61%) (This ETF has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 22 days ago.)

Trading Expectations (NUEM) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Nuveen ESG Emerging Markets Equity ETF to open at $29.08, and during the day (based on 14 day Average True Range), to move between $28.70 and $29.48, which gives a possible trading interval of +/-$0.388 (+/-1.33%) up or down from last closing price. If Nuveen ESG Emerging Markets Equity ETF takes out the full calculated possible swing range there will be an estimated 2.66% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $27.82, some $1.27 (4.37%) from the current price of $29.09, our system finds the risk reward attractive.

Is Nuveen ESG Emerging Markets Equity ETF ETF A Buy?

Nuveen ESG Emerging Markets Equity holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Nuveen ESG Emerging Markets Equity ETF of Monday, May 20, 2024

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