Nuveen Multi Market Income Fund Inc Stock Forecast

Green day on Monday for Nuveen Multi Market Income Fund Inc
(Updated on Apr 22, 2024)

JMM Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.86%. Further rise is indicated until a new top pivot has been found. Nuveen Multi Market Income Fund Inc has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Nuveen Multi Market Income Fund Inc 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 $5.99. On a fall, the stock will find some support from the short-term average at $5.85. 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). The stock had a Golden Star Signal on Thursday, July 27, 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 stock in question.

Buy

Special Signal Notification

Golden Star 12 Months

The stock had a Golden Star Signal on Thursday, July 27, 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 stock in question.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Tuesday, April 16, 2024 and based on theory for this formation the price should go up by 6.04% to $6.22 within 36 trading days since signal was issued (Tuesday, April 23, 2024).

Support, Risk & Stop-loss for Nuveen Multi Market Income Fund Inc stock

Nuveen Multi Market Income Fund Inc finds support from accumulated volume at $5.87 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 $0.0400 between high and low, or 0.686%. For the last week the stock has had daily average volatility of 0.730%.

Nuveen Multi Market Income Fund Inc is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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

Trading Expectations (JMM) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Nuveen Multi Market Income Fund Inc to open at $5.86, and during the day (based on 14 day Average True Range), to move between $5.83 and $5.91, which gives a possible trading interval of +/-$0.0414 (+/-0.71%) up or down from last closing price. If Nuveen Multi Market Income Fund Inc takes out the full calculated possible swing range there will be an estimated 1.41% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $5.87 (0.09%) than the resistance at $5.96 (1.53%), 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 Multi Market Income Fund Inc stock A Buy?

Nuveen Multi Market Income Fund Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.772 Sell Candidate Unchanged

Predicted Opening Price for Nuveen Multi Market Income Fund Inc of Tuesday, April 23, 2024

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