Technical Tracker: Following Shares of Nuveen Municipal 2021 Target Term Fund (NHA)

Marco Green
September 29, 2017

Some investors may favor one category of stocks over another, but they may need to find a combination at some point.

Active traders have a wide variety of technical indicators at their disposal for completing technical stock analysis. Dedicating time for extensive stock research may not be easy, but it may put the investor in a better position. On the other end of the spectrum, a younger investor with a longer time horizon might be able to search for stocks with a higher potential for growth that may involve much more risk. Whatever approach is used, investors may benefit greatly from making sure that all the homework is done, and all of the angles have been examined properly. At the time of writing, the 14-day ADX for Nuveen New York AMT-Free Quality Municipal Income Fund (NRK) is noted at 24.37. Many technical chart analysts believe that an ADX value over 25 would suggest a strong trend. A reading under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. Presently, Nuveen New York AMT-Free Quality Municipal Income Fund (NRK) has a 14-day Commodity Channel Index (CCI) of -133.57. The moving average is a popular tool among technical stock analysts. Alternately, if the indicator goes below -80, this may point to the stock being oversold. Taking a glance at the relative strength indictor, we note that the 14-day RSI is now at 50.11, the 7-day stands at 54.93, and the 3-day is sitting at 69.69. Presently, Nuveen California Municipal Value Fund 2 (NCB)'s Williams Percent Range or 14 day Williams %R is resting at -77.78.

Interested traders may also be keeping an eye on the Williams Percent Range or Williams %R. A reading between 0 and -20 would indicate an overbought situation. The CCI was created to typically stay within the reading of -100 to +100. The Williams %R oscillates in a range from 0 to -100. This is a momentum indicator that is the inverse of the Fast Stochastic Oscillator. It invests in fixed income markets of the United States. The NYSE listed company saw a recent bid of $13.75 and 84796 shares have traded hands in the session.

Investors may be searching high and low for the next breakout victor in the stock market. Investors may be looking to buy companies that continue to post beats on the earnings front, and cut ties with ones that are not hitting their marks.

Investors often closely follow fundamental and technical data. On the flip side, an RSI near 0 may signal weaker momentum.

Deep diving into the technical levels for Vanguard Intermediate Term Corporate Bond Etf (VCIT), we note that the equity now has a 14-day Commodity Channel Index (CCI) of -123.07. The ADX is typically plotted along with two other directional movement indicator lines, the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI). The RSI was originally created by J. Welles Wilder which was introduced in his 1978 book "New Concepts in Technical Trading Systems". The ATR is not used to figure out price direction, just to measure volatility. The RSI oscillates on a scale from 0 to 100. A move above 70 is widely considered to show the stock as overbought, and a move below 30 would indicate that the stock may be oversold. A reading between 0 and -20 would indicate an overbought situation. A reading from -80 to -100 would indicate an oversold situation.

Checking in on some other technical levels, the 14-day RSI is now at 44.85, the 7-day stands at 38.18, and the 3-day is sitting at 22.17.

Vanguard Intermediate Term Corporate Bond Etf's Williams Percent Range or 14 day Williams %R now sits at -83.33.

Currently, the 14-day ADX for Grana y Montero SAA (GRAM) is sitting at 38.66.

We can also take a look at the Average Directional Index or ADX of the stock. The ADX is often used along with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of the trend.

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