Shares Seesawing on Volume: Nuveen Senior Income Fund (NSL)

Marco Green
September 12, 2017

The South Dakota-based Dorsey & Whitney Trust Co Llc has invested 0.06% in the stock. They may be looking to spot those shares that haven't been doing a whole lot and are being generally overlooked by the investing world.

Often times, investors may become anxious when the stock market is highly volatile. Many investors are teased with investment tips from friends or colleagues. Market bottoms tend to occur when the MFI is below 20. Currently, Nuveen Pennsylvania Municipal Value Fund (NPN) has a 14-day ATR of 0.21. Moving averages have the ability to be used as a powerful indicator for technical stock analysis. The ATR is not used to figure out price direction, just to measure volatility. This may have investors scrambling to study if developing markets are indeed growing with developed markets. The general interpretation of the ATR is the higher the ATR value, the higher the volatility.

Some investors may find the Williams Percent Range or Williams %R as a helpful technical indicator. Nuveen Pennsylvania Municipal Value Fund (NPN) now has a 14 day Williams %R of -66.00. Values can range from 0 to -100. The Williams %R is similar to the Stochastic Oscillator except it is plotted upside-down. The ADX measures the strength or weakness of a particular trend. Using the ADX with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) may help determine the direction of the trend as well as the overall momentum. In some cases, MA's may be used as strong reference points for spotting support and resistance levels. Nuveen Floating Rate Income Opportunity Fund (JRO) now has a 14-day Commodity Channel Index (CCI) of 142.59. A value of 25-50 would indicate a strong trend. A value of 50-75 would identify a very strong trend, and a value of 75-100 would lead to an extremely strong trend. Conducting thorough fundamental research on stocks even after they have broken out may help the investor understand the reason behind the move, and whether it is likely to continue or if it is just a temporary spike.

At the time of writing, the 14-day ADX for Nuveen Preferred Income Opportunities Fund (JPC) is 16.78. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. Traders often add the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of a trend. 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 30 would indicate oversold conditions. Short traders are feeling a little more bullish on shares of Nuveen California Municipal Val if you consider the change in short interest.

Shifting gears to the Relative Strength Index, the 14-day RSI is now sitting at 51.83, the 7-day is 51.94, and the 3-day is now at 47.48 for Nuveen California Quality Municipal Income Fund (NAC).

The Average Directional Index or ADX is a popular technical indicator created to help measure trend strength. The RSI oscillates on a scale from 0 to 100. The original guidelines focused on creating buy/sell signals when the reading moved above +100 or below -100. The opposite is the case when the RSI line is heading lower. Many consider the equity oversold if the reading is below -80 and overbought if the indicator is between 0 and -20. A CCI reading of +100 may represent overbought conditions, while readings near -100 may indicate oversold territory. Company chares are trading at $10.04 a tad under $10.12, the 50 day moving average and which is a tad under the 200 day moving average of $10.15.

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