Nuveen California Dividend Advantage Stock Forecast
Green day on Wednesday for Nuveen California Dividend Advantage stock after gaining 0.182%
(Updated on Mar 27, 2024)
The Nuveen California Dividend Advantage stock price gained 0.182% on the last trading day (Wednesday, 27th Mar 2024), rising from $11.01 to $11.03. During the last trading day the stock fluctuated 0.454% from a day low at $11.01 to a day high of $11.06. The price has fallen in 6 of the last 10 days and is down by -1.25% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 49 thousand more shares were traded than the day before. In total, 396 thousand shares were bought and sold for approximately $4.37 million.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Nuveen California Dividend Advantage stock with a 90% probability to be traded between $10.90 and $11.25 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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NAC Signals & Forecast
The Nuveen California Dividend Advantage stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $11.01 and $11.03. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -1.25%. 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). The stock had a Golden Star Signal on Tuesday, July 18, 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.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, July 18, 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 California Dividend Advantage stock
Nuveen California Dividend Advantage finds support from accumulated volume at $11.01 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 $0.0500 between high and low, or 0.454%. For the last week the stock has had daily average volatility of 0.692%.
Our recommended stop-loss: $10.54 (-4.45%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (NAC) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Nuveen California Dividend Advantage Municipal Fund to open at $11.03, and during the day (based on 14 day Average True Range), to move between $10.95 and $11.11, which gives a possible trading interval of +/-$0.0803 (+/-0.73%) up or down from last closing price. If Nuveen California Dividend Advantage Municipal Fund takes out the full calculated possible swing range there will be an estimated 1.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.01 (0.18%) than the resistance at $11.05 (0.18%), 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 California Dividend Advantage Municipal Fund stock A Buy?
Nuveen California Dividend Advantage 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: 0.749 Hold/Accumulate Unchanged
Predicted Opening Price for Nuveen California Dividend Advantage Municipal Fund of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$11.03 ( 0.0302%) | $11.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NAC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.08 | 0.484 % | |
R2 | 11.06 | 0.310 % | ||
R1 | 11.05 | 0.203 % | ||
Current price: | 11.03 | |||
Support | S1 | 11.01 | -0.143 % | |
S2 | 11.00 | -0.250 % | ||
S3 | 10.98 | -0.423 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 11.14 | 1.00 % | |
R2 | 11.09 | 0.544 % | ||
R1 | 11.05 | 0.181 % | ||
Current price | 11.03 | |||
Support | S1 | 11.01 | -0.181% | |
S2 | 11.00 | -0.272% | ||
S3 | 10.95 | -0.725% |
NAC Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 14, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.0490 | 0.444% |
2 | Feb 01, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.0435 | 0.394% |
3 | Jan 02, 2024 | Jan 11, 2024 | Feb 01, 2024 | $0.0435 | 0.392% |
4 | Dec 01, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.0435 | 0.392% |
5 | Oct 23, 2023 | Nov 14, 2023 | Dec 01, 2023 | $0.0440 | 0.411% |
FAQ
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