Nuveen Core Equity Alpha Fund Stock Forecast
Nuveen Core Equity Alpha Fund stock downgraded to Hold/Accumulate
(Updated on Apr 19, 2024)
The Nuveen Core Equity Alpha Fund stock price fell by -0.89% on the last day (Friday, 19th Apr 2024) from $13.45 to $13.33. During the last trading day the stock fluctuated 1.80% from a day low at $13.32 to a day high of $13.56. The price has fallen in 5 of the last 10 days and is down by -3.41% for this period. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 37 thousand shares were bought and sold for approximately $499.36 thousand.
Given the current short-term trend, the stock is expected to rise 2.25% during the next 3 months and, with a 90% probability hold a price between $13.63 and $14.73 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
JCE Signals & Forecast
There are few to no technical positive signals at the moment. The Nuveen Core Equity Alpha 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 $13.50 and $13.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -6.59%. 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). Nuveen Core Equity Alpha Fund gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Nuveen Core Equity Alpha Fund stock
Nuveen Core Equity Alpha Fund finds support from accumulated volume at $13.31 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 $0.240 between high and low, or 1.80%. For the last week the stock has had daily average volatility of 1.43%.
Our recommended stop-loss: $12.77 (-4.19%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 26 days ago.)
Trading Expectations (JCE) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Nuveen Core Equity Alpha Fund to open at $13.40, and during the day (based on 14 day Average True Range), to move between $13.15 and $13.51, which gives a possible trading interval of +/-$0.182 (+/-1.37%) up or down from last closing price. If Nuveen Core Equity Alpha Fund takes out the full calculated possible swing range there will be an estimated 2.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $13.31 (0.15%) than the resistance at $13.79 (3.45%), 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 Core Equity Alpha Fund stock A Buy?
Nuveen Core Equity Alpha Fund holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.726 Hold/Accumulate Downgraded
Predicted Opening Price for Nuveen Core Equity Alpha Fund of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$13.40 ( 0.550%) | $13.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JCE
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 13.64 | 2.35 % | |
R2 | 13.55 | 1.66 % | ||
R1 | 13.50 | 1.24 % | ||
Current price: | 13.33 | |||
Support | S1 | 13.31 | -0.138 % | |
S2 | 13.26 | -0.563 % | ||
S3 | 13.16 | -1.25 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 13.98 | 4.88 % | |
R2 | 13.80 | 3.53 % | ||
R1 | 13.79 | 3.45 % | ||
Current price | 13.33 | |||
Support | S1 | 13.31 | -0.150% | |
S2 | 13.26 | -0.525% | ||
S3 | 13.25 | -0.600% |
JCE Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 14, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.320 | 2.29% |
2 | Dec 01, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.320 | 2.36% |
3 | Sep 01, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.320 | 2.58% |
4 | Jun 01, 2023 | Jun 14, 2023 | Jul 03, 2023 | $0.320 | 2.51% |
5 | Mar 01, 2023 | Mar 14, 2023 | Apr 03, 2023 | $0.320 | 2.58% |
FAQ
Click here for our free guide on how to buy Nuveen Core Equity Alpha Fund Stock.