Nuveen S&P 500 Buy-Write Income Fund Stock Forecast

Green day on Wednesday for Nuveen S&P 500 Buy-Write Income Fund
(Updated on Apr 24, 2024)

BXMX Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 2.65%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Nuveen S&P 500 Buy-Write Income Fund stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $13.00. On a fall, the stock will find some support from the short-term average at $12.62. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Nuveen S&P 500 Buy-Write Income Fund stock

Nuveen S&P 500 Buy-Write Income Fund finds support from accumulated volume at $12.74 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.110 (0.86%) between high and low. For the last week, the stock has had daily average volatility of 0.99%.

Our recommended stop-loss: $12.12 (-5.34%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (BXMX) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Nuveen S&P 500 Buy-Write Income Fund to open at $12.79, and during the day (based on 14 day Average True Range), to move between $12.67 and $12.93, which gives a possible trading interval of +/-$0.132 (+/-1.03%) up or down from last closing price. If Nuveen S&P 500 Buy-Write Income Fund takes out the full calculated possible swing range there will be an estimated 2.06% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $12.74 (0.47%) than the resistance at $13.04 (1.87%), 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 Buy-Write Income Fund stock A Buy?

Nuveen S&P 500 Buy-Write Income Fund 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: -0.233 Hold/Accumulate Unchanged

Predicted Opening Price for Nuveen S&P 500 Buy-Write Income Fund of Thursday, April 25, 2024

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