Nuveen Dividend Advantage Municipal Fund Stock Forecast
Nuveen Dividend Advantage Municipal Fund stock price up 0.0913% on Friday
(Updated on Apr 19, 2024)
The Nuveen Dividend Advantage Municipal Fund stock price gained 0.0913% on the last trading day (Friday, 19th Apr 2024), rising from $10.95 to $10.96. During the last trading day the stock fluctuated 0.547% from a day low at $10.96 to a day high of $11.02. The price has fallen in 5 of the last 10 days and is down by -1.97% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 90 thousand more shares were traded than the day before. In total, 562 thousand shares were bought and sold for approximately $6.16 million.
The stock is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $10.93 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Nuveen Dividend Advantage Municipal Fund stock with a 90% probability to be traded between $10.84 and $11.34 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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NAD Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 0.183%. 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 Dividend Advantage Municipal 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 $10.98 and $11.25. 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).
A sell signal from a double top formation was found on Thursday, March 28, 2024 and based on theory for this formation the price should fall by -0.390% to $10.92 within 39 trading days since signal was issued (Monday, April 22, 2024).
Support, Risk & Stop-loss for Nuveen Dividend Advantage Municipal Fund stock
Nuveen Dividend Advantage Municipal Fund finds support from accumulated volume at $10.95 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 $0.0600 between high and low, or 0.547%. For the last week the stock has had daily average volatility of 0.733%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (NAD) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Nuveen Dividend Advantage Municipal Fund to open at $10.98, and during the day (based on 14 day Average True Range), to move between $10.87 and $11.05, which gives a possible trading interval of +/-$0.0941 (+/-0.86%) up or down from last closing price. If Nuveen Dividend Advantage Municipal Fund takes out the full calculated possible swing range there will be an estimated 1.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $10.95 (0.09%) than the resistance at $11.20 (2.19%), 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 Dividend Advantage Municipal Fund stock A Buy?
Nuveen Dividend Advantage Municipal Fund holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.409 Sell Candidate Unchanged
Predicted Opening Price for Nuveen Dividend Advantage Municipal Fund of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $10.98 ( 0.182%) | $10.96 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NAD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.04 | 0.730 % | |
| R2 | 11.02 | 0.521 % | ||
| R1 | 11.00 | 0.392 % | ||
| Current price: | 10.96 | |||
| Support | S1 | 10.96 | -0.0266 % | |
| S2 | 10.94 | -0.156 % | ||
| S3 | 10.92 | -0.365 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.33 | 3.38 % | |
| R2 | 11.31 | 3.19 % | ||
| R1 | 11.20 | 2.19 % | ||
| Current price | 10.96 | |||
| Support | S1 | 10.95 | -0.0912% | |
| S2 | 10.94 | -0.182% | ||
| S3 | 0 | . |
NAD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 12, 2024 | May 01, 2024 | $0.0520 | 0.474% |
| 2 | Mar 14, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.0520 | 0.459% |
| 3 | Feb 01, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.0440 | 0.389% |
| 4 | Jan 02, 2024 | Jan 11, 2024 | Feb 01, 2024 | $0.0440 | 0.385% |
| 5 | Dec 01, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.0440 | 0.384% |
FAQ
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