Nuveen Credit Strategies Income Fund Stock Forecast

Green day on Friday for Nuveen Credit Strategies Income Fund
(Updated on Apr 19, 2024)

JQC Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.93%. 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. The Nuveen Credit Strategies Income 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 $5.43 and $5.54. A break-up above any of these levels will issue buy signals. 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, November 30, 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.

Support, Risk & Stop-loss for Nuveen Credit Strategies Income Fund stock

Nuveen Credit Strategies Income Fund finds support from accumulated volume at $5.40 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 0.743%. For the last week the stock has had daily average volatility of 1.27%.

Our recommended stop-loss: $5.11 (-5.52%) (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 (JQC) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Nuveen Credit Strategies Income Fund to open at $5.40, and during the day (based on 14 day Average True Range), to move between $5.35 and $5.47, which gives a possible trading interval of +/-$0.0572 (+/-1.06%) up or down from last closing price. If Nuveen Credit Strategies Income Fund takes out the full calculated possible swing range there will be an estimated 2.11% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $5.40 (0.18%) than the resistance at $5.53 (2.22%), 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 Credit Strategies Income Fund stock A Buy?

Nuveen Credit Strategies Income 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.

Current score: 0.690 Hold/Accumulate Unchanged

Predicted Opening Price for Nuveen Credit Strategies Income Fund of Monday, April 22, 2024

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