Nuveen Floating Rate Income Fund Stock Forecast
Evaluation of Nuveen Floating Rate Income Fund stock downgraded after the last trading session.
(Updated on Apr 19, 2024)
The Nuveen Floating Rate Income Fund stock price gained 0.586% on the last trading day (Friday, 19th Apr 2024), rising from $8.53 to $8.58. It has now gained 4 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 the last trading day the stock fluctuated 0.82% from a day low at $8.53 to a day high of $8.60. The price has risen in 7 of the last 10 days but is still down by -1.15% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 37 thousand more shares were traded than the day before. In total, 356 thousand shares were bought and sold for approximately $3.06 million.
The stock lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.04% during the next 3 months and, with a 90% probability hold a price between $8.72 and $9.10 at the end of this 3-month period.
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JFR Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 1.54%. 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 Floating Rate Income Fund stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $8.66. On a fall, the stock will find some support from the short-term average at $8.56. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Monday, December 04, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Monday, December 04, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Nuveen Floating Rate Income Fund stock
Nuveen Floating Rate Income Fund finds support from accumulated volume at $8.53 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 $0.0700 between high and low, or 0.82%. For the last week the stock has had daily average volatility of 1.18%.
Our recommended stop-loss: $8.09 (-5.73%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (JFR) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Nuveen Floating Rate Income Fund to open at $8.57, and during the day (based on 14 day Average True Range), to move between $8.50 and $8.66, which gives a possible trading interval of +/-$0.0780 (+/-0.91%) up or down from last closing price. If Nuveen Floating Rate Income Fund takes out the full calculated possible swing range there will be an estimated 1.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.53 (0.58%) than the resistance at $8.65 (0.82%), 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 Floating Rate Income Fund stock A Buy?
Nuveen Floating Rate Income Fund holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.905 Hold/Accumulate Downgraded
Predicted Opening Price for Nuveen Floating Rate Income Fund of Monday, April 22, 2024
Fair opening price April 22, 2024 | Current price |
---|---|
$8.57 ( 0.117%) | $8.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JFR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.64 | 0.699 % | |
R2 | 8.61 | 0.388 % | ||
R1 | 8.60 | 0.195 % | ||
Current price: | 8.58 | |||
Support | S1 | 8.54 | -0.428 % | |
S2 | 8.53 | -0.621 % | ||
S3 | 8.50 | -0.93 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.75 | 1.98 % | |
R2 | 8.68 | 1.17 % | ||
R1 | 8.65 | 0.82 % | ||
Current price | 8.58 | |||
Support | S1 | 8.53 | -0.583% | |
S2 | 8.46 | -1.40% | ||
S3 | 8.45 | -1.52% |
JFR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 01, 2024 | Apr 12, 2024 | May 01, 2024 | $0.0850 | 0.99% |
2 | Mar 14, 2024 | Mar 14, 2024 | Apr 01, 2024 | $0.0850 | 0.97% |
3 | Feb 01, 2024 | Feb 14, 2024 | Mar 01, 2024 | $0.0850 | 0.98% |
4 | Jan 02, 2024 | Jan 11, 2024 | Feb 01, 2024 | $0.0850 | 1.00% |
5 | Dec 01, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.0850 | 1.03% |
FAQ
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