Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Forecast
Nuveen NASDAQ 100 Dynamic Overwrite Fund stock upgraded to Strong Buy Candidate.
(Updated on Jul 02, 2024)
The Nuveen NASDAQ 100 Dynamic Overwrite Fund stock price gained 1.08% on the last trading day (Tuesday, 2nd Jul 2024), rising from $25.05 to $25.32. During the last trading day the stock fluctuated 1.04% from a day low at $25.06 to a day high of $25.32. The price has risen in 6 of the last 10 days and is up by 2.8% over the past 2 weeks. Volume fell on the last day by -55 thousand shares and in total, 95 thousand shares were bought and sold for approximately $2.40 million. 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 7.90% during the next 3 months and, with a 90% probability hold a price between $25.85 and $27.90 at the end of this 3-month period.
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QQQX Signals & Forecast
The Nuveen NASDAQ 100 Dynamic Overwrite 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 $24.78 and $24.36. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 12.88%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Nuveen NASDAQ 100 Dynamic Overwrite Fund stock
Nuveen NASDAQ 100 Dynamic Overwrite Fund finds support from accumulated volume at $25.08 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.260 between high and low, or 1.04%. For the last week the stock has had daily average volatility of 1.04%.
Our recommended stop-loss: $24.49 (-3.26%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 65 days ago.)
Trading Expectations (QQQX) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Nuveen NASDAQ 100 Dynamic Overwrite Fund to open at $25.23, and during the day (based on 14 day Average True Range), to move between $25.06 and $25.58, which gives a possible trading interval of +/-$0.260 (+/-1.03%) up or down from last closing price. If Nuveen NASDAQ 100 Dynamic Overwrite Fund takes out the full calculated possible swing range there will be an estimated 2.05% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $25.08, some $0.240 (0.95%) from the current price of $25.32, our system finds the risk reward attractive.
Is Nuveen NASDAQ 100 Dynamic Overwrite Fund stock A Buy?
Nuveen NASDAQ 100 Dynamic Overwrite Fund holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.865 Strong Buy Candidate Upgraded
Predicted Opening Price for Nuveen NASDAQ 100 Dynamic Overwrite Fund of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $25.23 ( 0.342%) | $25.32 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QQQX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.49 | 0.685% |
| R2 | 25.39 | 0.292% |
| R1 | 25.33 | 0.0500% |
| Price | 25.32 | |
| S1 | 25.13 | -0.735% |
| S2 | 25.07 | -0.98% |
| S3 | 24.97 | -1.37% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 25.32 | |
| S1 | 25.08 | -0.95% |
| S2 | 24.63 | -2.73% |
| S3 | 22.86 | -9.72% |
QQQX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 03, 2024 | Jun 14, 2024 | Jul 01, 2024 | $0.420 | 1.68% |
| 2 | Mar 14, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.420 | 1.74% |
| 3 | Dec 01, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.420 | 1.81% |
| 4 | Sep 01, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.420 | 1.86% |
| 5 | Jun 01, 2023 | Jun 14, 2023 | Jul 03, 2023 | $0.420 | 1.67% |
FAQ
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