Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock Forecast
Red day on Thursday for Nuveen NASDAQ 100 Dynamic Overwrite Fund stock after losing 0.435%
(Updated on Apr 18, 2024)
The Nuveen NASDAQ 100 Dynamic Overwrite Fund stock price fell by -0.435% on the last day (Thursday, 18th Apr 2024) from $23.00 to $22.90. During the last trading day the stock fluctuated 1.28% from a day low at $22.85 to a day high of $23.14. The price has fallen in 6 of the last 10 days and is down by -3.25% for this period. Volume has increased on the last day by 56 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, 144 thousand shares were bought and sold for approximately $3.30 million.
The stock has broken the narrow and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $23.30 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
QQQX Signals & Forecast
There are few to no technical positive signals at the moment. The Nuveen NASDAQ 100 Dynamic Overwrite 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 $23.28 and $23.71. 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 28, 2024, and so far it has fallen -5.14%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
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 -2.14% to $22.41 within 19 trading days since signal was issued (Friday, April 19, 2024).
Support, Risk & Stop-loss for Nuveen NASDAQ 100 Dynamic Overwrite Fund stock
Nuveen NASDAQ 100 Dynamic Overwrite Fund finds support from accumulated volume at $22.85 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 $0.292 between high and low, or 1.28%. For the last week the stock has had daily average volatility of 1.76%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (QQQX) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Nuveen NASDAQ 100 Dynamic Overwrite Fund to open at $22.96, and during the day (based on 14 day Average True Range), to move between $22.58 and $23.22, which gives a possible trading interval of +/-$0.317 (+/-1.38%) up or down from last closing price. If Nuveen NASDAQ 100 Dynamic Overwrite Fund takes out the full calculated possible swing range there will be an estimated 2.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $22.85 (0.22%) than the resistance at $23.27 (1.62%), 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 NASDAQ 100 Dynamic Overwrite Fund stock A Buy?
Nuveen NASDAQ 100 Dynamic Overwrite 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: -2.905 Sell Candidate Unchanged
Predicted Opening Price for Nuveen NASDAQ 100 Dynamic Overwrite Fund of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $22.96 ( 0.280%) | $22.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for QQQX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.26 | 1.56 % | |
| R2 | 23.14 | 1.07 % | ||
| R1 | 23.08 | 0.767 % | ||
| Current price: | 22.90 | |||
| Support | S1 | 22.85 | -0.208 % | |
| S2 | 22.78 | -0.509 % | ||
| S3 | 22.67 | -1.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.89 | 4.32 % | |
| R2 | 23.45 | 2.40 % | ||
| R1 | 23.27 | 1.62 % | ||
| Current price | 22.90 | |||
| Support | S1 | 22.85 | -0.218% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
QQQX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 14, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.420 | 1.74% |
| 2 | Dec 01, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.420 | 1.81% |
| 3 | Sep 01, 2023 | Sep 14, 2023 | Oct 02, 2023 | $0.420 | 1.86% |
| 4 | Jun 01, 2023 | Jun 14, 2023 | Jul 03, 2023 | $0.420 | 1.67% |
| 5 | Mar 01, 2023 | Mar 14, 2023 | Apr 03, 2023 | $0.420 | 1.76% |
FAQ
Click here for our free guide on how to buy Nuveen NASDAQ 100 Dynamic Overwrite Fund Stock.
