Economy

Nuveen Floating Rate Income Fund (NYSE:JFR) Sentiment Worsened, Because

Some financial strategists may be projecting a sharp downturn over the next few months while others believe that there is no tangible reason for the market to lose the near-term momentum.

The MACD-Histogram is an indicator of an indicator. This means that the MACD-Histogram is four steps removed from the price of the underlying security. It takes four steps to get from the actual price to the MACD-Histogram.

Many technical traders use the Tenkan-Sen as a tool for predicting levels where the price of the asset will find short-term support. Vanguard Funds Plc (VUSD.L) now has a 14-day Commodity Channel Index (CCI) of 161.09. The RSI may be useful for spotting abnormal price activity and volatility. Moving averages can be used to help filter out the day to day noise created by other factors. RSI can be used to help spot overbought or oversold conditions. Nuveen Floating Rate Income Opportuntiy (JRO) now has a 14-day Commodity Channel Index (CCI) of 78.91. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal. A reading under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal. The ADX is typically used along with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) which point to the direction of the trend. The ADX measures the strength or weakness of a particular trend.

Interested investors may be watching the Williams Percent Range or Williams %R. When the stock is above this signal, traders will be looking out for possible upward momentum. The current 14-day RSI is presently sitting at 36.45, the 7-day is 25.80, and the 3-day is 13.56. A CCI reading of +100 may represent overbought conditions, while readings near -100 may indicate oversold territory.

Checking in on some other technical levels, the 14-day RSI is now at 58.01, the 7-day stands at 63.93, and the 3-day is sitting at 77.44. The Williams %R shows how the current closing price compares to previous highs/lows over a specified period. The RSI oscillates on a scale from 0 to 100. Different time periods may be used when using the RSI indicator. On the flip side, an RSI near 0 may signal weaker momentum. Wilder introduced RSI in his book "New Concepts in Technical Trading Systems" which was published in 1978.

Another technical indicator that may be a powerful resource for determining trend strength is the Average Directional Index or ADX.

Taking a peek at some Moving Averages, the 200-day is at 18.88, the 50-day is 11.40, and the 7-day is sitting at 13.93. The indicator is computed by using the average losses and gains of a stock over a certain time period. Nuveen S&P 500 Buy-Write Income Fund earned a daily sentiment score of -0.10 on Accern's scale. This is a momentum indicator that is the inverse of the Fast Stochastic Oscillator. Shares last traded at $10.00 which is marginally under $10.01, the stock's 50 day moving average and which is marginally higher than the 200 day moving average of $9.91.



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