Nuveen S&P 500 Dynamic Overwrite Fund Stock Forecast

Red day on Monday for Nuveen S&P 500 Dynamic Overwrite Fund stock after losing 0.785%
(Updated on Apr 15, 2024)

SPXX Signals & Forecast

There are few to no technical positive signals at the moment. The Nuveen S&P 500 Dynamic Overwrite Fund 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 $15.47 and $15.51. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -3.44%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Monday, April 01, 2024 with a target of $15.39. Despite whether the objective of the signal formation has been reached the stock may continue to fall.

Support, Risk & Stop-loss for Nuveen S&P 500 Dynamic Overwrite Fund stock

Nuveen S&P 500 Dynamic Overwrite Fund finds support from accumulated volume at $15.10 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 $0.230 between high and low, or 1.52%. For the last week the stock has had daily average volatility of 1.08%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (SPXX) For The Upcoming Trading Day Of Tuesday 16th

For the upcoming trading day on Tuesday, 16th we expect Nuveen S&P 500 Dynamic Overwrite Fund to open at $15.24, and during the day (based on 14 day Average True Range), to move between $15.01 and $15.33, which gives a possible trading interval of +/-$0.161 (+/-1.06%) up or down from last closing price. If Nuveen S&P 500 Dynamic Overwrite 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 support from accumulated volume at $15.10 (0.46%) than the resistance at $15.33 (1.05%), 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 S&P 500 Dynamic Overwrite Fund stock A Buy?

The Nuveen S&P 500 Dynamic Overwrite Fund stock holds several negative signals and despite the positive trend, we believe Nuveen S&P 500 Dynamic Overwrite Fund will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.407 Sell Candidate Unchanged

Predicted Opening Price for Nuveen S&P 500 Dynamic Overwrite Fund of Tuesday, April 16, 2024

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