Nuveen Connecticut Premium Income Municipal Fund Forecast and Stock Analysis
Technical NTC stock analysis for Friday May 24, 2019.
|Shorts||0.42% ( 2019-04-15 )|
|Price to book||USD 0.94|
|Next Earnings Date||n/a|
Nuveen Connecticut Premium Income Municipal Fund gained 0.31% in the last trading day ( Friday, 24th May 2019 ), rising from $12.99 to $13.03 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During day the stock fluctuated 0.77% from a day low at $12.93 to a day high of $13.03. The price has risen in 7 of the last 10 days and is up by 4.66% over the past 2 weeks. Volume fell in the last day by -122 206 shares, and in total, 52 600 shares bought and sold for approximately $685 378.00. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
- 30 day high of the NTC stock price was $13.03 and low was $12.20.
- 90 day high was $13.03 and low was $11.74.
- 52 week high for the Nuveen Connecticut Premium Income Municipal Fund - $13.03 and low - $11.01.
Nuveen Connecticut Premium Income Municipal Fund has broken the narrow and weak rising the short-term trend up and an even stronger rising rate is indicated. For any reaction back there will now be support on the roof on the current trend broken at $12.76, a level that may pose a second chance to hit a runner. According to fan-theory $12.91 will be the next possible trend-top level and thereby pose a resistance level which may not be broken at the first attempt.
Nuveen Connecticut Premium Income Municipal Fund holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $12.70 and $12.39. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday May 09, 2019, which indicates further gains until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Relative Strength Index (RSI)
The stock holds a RSI14 at 83 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
Nuveen Connecticut Premium Income Municipal Fund finds support from accumulated volume at $12.99.
In general the stock tends to have controlled movements, but the low liquidity has increased the risk substantially.
The stock is extremely overbought on RSI14 (83). Normally this will pose a good selling opportunity, but since the stock has broken the trend up the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stoploss: $12.49 (-4.15%) (This stock has low daily movements and this gives low risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from pivot bottom found 11 days ago.)
1.03 %Average volatility
Very Low Low Medium High Very High
Nuveen Connecticut Premium Income Municipal Fund holds several positive signals and has broken the weak rising trend up. As the stock is also in great technical shape, we therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
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