Nuveen Municipal High Income Opportunity Stock Forecast
Nuveen Municipal High Income Opportunity stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 18, 2024)
The Nuveen Municipal High Income Opportunity stock price fell by -0.680% on the last day (Thursday, 18th Apr 2024) from $10.29 to $10.22. During the last trading day the stock fluctuated 0.98% from a day low at $10.22 to a day high of $10.32. The price has been going up and down for this period, and there has been a -2.01% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -159 thousand shares and in total, 119 thousand shares were bought and sold for approximately $1.21 million.
Given the current short-term trend, the stock is expected to rise 7.08% during the next 3 months and, with a 90% probability hold a price between $10.94 and $11.74 at the end of this 3-month period.
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NMZ Signals & Forecast
There are few to no technical positive signals at the moment. The Nuveen Municipal High Income Opportunity 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 $10.32 and $10.47. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 07, 2024, and so far it has fallen -3.77%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Nuveen Municipal High Income Opportunity stock
Nuveen Municipal High Income Opportunity finds support from accumulated volume at $9.98 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.1000 between high and low, or 0.98%. For the last week the stock has had daily average volatility of 1.02%
Nuveen Municipal High Income Opportunity is oversold on RSI14 (19). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: $9.68 (-5.30%) (This stock has low daily movements and this gives low risk. Low RSI14 is 19 which reduces the risk some. There is a sell signal from a pivot top found 29 days ago.)
Trading Expectations (NMZ) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Nuveen Municipal High Income Opportunity Fund to open at $10.25, and during the day (based on 14 day Average True Range), to move between $10.12 and $10.32, which gives a possible trading interval of +/-$0.100 (+/-0.98%) up or down from last closing price. If Nuveen Municipal High Income Opportunity Fund takes out the full calculated possible swing range there will be an estimated 1.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.44 (2.15%) than the support at $9.98 (2.35%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Nuveen Municipal High Income Opportunity Fund stock A Buy?
Nuveen Municipal High Income Opportunity 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.785 Hold/Accumulate Upgraded
Predicted Opening Price for Nuveen Municipal High Income Opportunity Fund of Friday, April 19, 2024
Fair opening price April 19, 2024 | Current price |
---|---|
$10.25 ( 0.326%) | $10.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NMZ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.35 | 1.30 % | |
R2 | 10.32 | 0.93 % | ||
R1 | 10.29 | 0.700 % | ||
Current price: | 10.22 | |||
Support | S1 | 10.22 | -0.0476 % | |
S2 | 10.19 | -0.279 % | ||
S3 | 10.15 | -0.652 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.56 | 3.33 % | |
R2 | 10.47 | 2.45 % | ||
R1 | 10.44 | 2.15 % | ||
Current price | 10.22 | |||
Support | S1 | 9.98 | -2.35% | |
S2 | 9.92 | -2.94% | ||
S3 | 9.60 | -6.07% |
NMZ Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 01, 2024 | Apr 12, 2024 | May 01, 2024 | $0.0475 | 0.465% |
2 | Mar 14, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.0475 | 0.455% |
3 | Feb 01, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.0425 | 0.403% |
4 | Jan 02, 2024 | Jan 11, 2024 | Feb 01, 2024 | $0.0425 | 0.422% |
5 | Dec 01, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.0425 | 0.430% |
FAQ
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