Nuveen Arizona Premium Income Municipal Stock Forecast
Evaluation of Nuveen Arizona Premium Income Municipal stock downgraded after the last trading session.
(Updated on Apr 24, 2024)
The Nuveen Arizona Premium Income Municipal stock price fell by -0.375% on the last day (Wednesday, 24th Apr 2024) from $10.64 to $10.60. During the last trading day the stock fluctuated 0.511% from a day low at $10.59 to a day high of $10.64. The price has fallen in 7 of the last 10 days and is down by -1.3% for this period. Volume has increased on the last day by 16 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, 38 thousand shares were bought and sold for approximately $399.13 thousand.
Given the current horizontal trend, you can expect Nuveen Arizona Premium Income Municipal stock with a 90% probability to be traded between $10.50 and $10.90 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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NAZ Signals & Forecast
There are few to no technical positive signals at the moment. The Nuveen Arizona Premium Income Municipal 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 $10.65 and $10.87. 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 -4.07%. 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 Arizona Premium Income Municipal 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 Arizona Premium Income Municipal stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.0541 between high and low, or 0.511%. For the last week the stock has had daily average volatility of 0.431%.
Nuveen Arizona Premium Income Municipal is oversold on RSI14 (18). 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 (NAZ) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Nuveen Arizona Premium Income Municipal Fund to open at $10.61, and during the day (based on 14 day Average True Range), to move between $10.54 and $10.66, which gives a possible trading interval of +/-$0.0642 (+/-0.61%) up or down from last closing price. If Nuveen Arizona Premium Income Municipal Fund takes out the full calculated possible swing range there will be an estimated 1.21% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $10.85, some $0.250 (2.36%) from the current price of $10.60, our system finds the risk reward not very attractive.
Is Nuveen Arizona Premium Income Municipal Fund stock A Buy?
Nuveen Arizona Premium Income Municipal 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.876 Sell Candidate Downgraded
Predicted Opening Price for Nuveen Arizona Premium Income Municipal Fund of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $10.61 ( 0.107%) | $10.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NAZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.67 | 0.618 % | |
| R2 | 10.64 | 0.423 % | ||
| R1 | 10.63 | 0.302 % | ||
| Current price: | 10.60 | |||
| Support | S1 | 10.59 | -0.0877 % | |
| S2 | 10.58 | -0.208 % | ||
| S3 | 10.56 | -0.403 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.97 | 3.49 % | |
| R2 | 10.88 | 2.64 % | ||
| R1 | 10.85 | 2.36 % | ||
| Current price | 10.60 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
NAZ Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 12, 2024 | May 01, 2024 | $0.0425 | 0.399% |
| 2 | Mar 14, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.0425 | 0.388% |
| 3 | Feb 01, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.0350 | 0.323% |
| 4 | Jan 02, 2024 | Jan 11, 2024 | Feb 01, 2024 | $0.0350 | 0.321% |
| 5 | Dec 01, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.0350 | 0.327% |
FAQ
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