Economy

Watching Shares of BlackRock Floating Rate Income Trust (BGT) — Technical Focus

Nuveen Floating Rate Income Fund is a diversified, closed-end management investment company. Traders may be using a PPOH reading above zero as a buy indicator.

The Williams Percent Range or Williams %R is another technical indicator worth taking a look at. Williams %R is a popular technical indicator created by Larry Williams to help identify overbought and oversold situations. The Williams %R shows how the current closing price compares to previous highs/lows over a specified period.

Tracking other technical indicators, the 14-day RSI is presently standing at 39.53, the 7-day sits at 36.68, and the 3-day is resting at 26.37 for BlackRock Floating Rate Income Trust (BGT). In general, if the indicator goes above -20, the stock may be considered overbought. If the indicator travels under -80, this may signal that the stock is oversold. The firm's 50 day moving average price is $14.09 and its 200 day moving average price is $14.29. Many traders will use a combination of moving averages with different time frames to help review stock trend direction. The simple moving average is a mathematical calculation that takes the average price (mean) for a given amount of time.

Another technical indicator that might serve as a powerful resource for measuring trend strength is the Average Directional Index or ADX. For traders looking to capitalize on trends, the ADX may be an essential technical tool. The ADX is typically used in conjunction with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to help spot trend direction as well as trend strength. The opposite would be the case for a falling ADX line. Nuveen Floating Rate Income Fund has a 52-week low of $10.67 and a 52-week high of $12.34. This represents a $0.73 dividend on an annualized basis and a yield of 5.24%. A value of 25-50 would indicate a strong trend. If the RSI is closer to 100, this may indicate a period of stronger momentum.

Alcentra European Floating Rate Income Fund Ltd (AEFS.L) now has a 14-day Commodity Channel Index (CCI) of 224.42. A reading under 20 would suggest no trend, and a reading from 20-25 would suggest that there is no clear trend signal. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action.

Shares of NB Global Floating Rate Income Fund Ltd (NBLU.L) now have a 14-day ADX of 14.05. NB Global Floating Rate Income Fund Ltd (NBLU.L)'s Williams Percent Range or 14 day Williams %R now sits at -66.67. 18,335 shares of the company's stock were exchanged. The RSI value will always move between 0 and 100. After a recent spotcheck, we can see that the SuperTrend line is now above the current stock price. The indicator is computed by using the average losses and gains of a stock over a certain time period. Generally, the RSI is considered to be oversold when it falls below 30 and overbought when it heads above 70. RSI can be used to help spot overbought or oversold conditions.



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