Nuveen Floating Rate Income Opportunity Fund (JRO) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:JRO - US6706EN1001
Overall JRO gets a technical rating of 3 out of 10. Recently some decent action could be observed, but in the medium term time frame this is still negative. JRO was also a bad performer in the overall market in the last year.
Although the technical rating is bad, JRO does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 7.93. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 7.86, a Stop Loss order could be placed below this zone.
More info and screens
7.43
We found 1 important support area.
- A support zone ranging from 7.50 to 7.86. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
We can see 2 important resistance areas.
- Resistance @7.93 from a horizontal line in the daily time frame.
- A resistance zone ranging from 8.15 to 8.27. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for JRO is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for JRO is up. |
| ChartMill Relative Strength | 34.04 | NEUTRAL | JRO is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of JRO is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of JRO is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of JRO is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 58.65 | NEUTRAL | The RSI value for JRO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests JRO has a positive trend. |
| Stochastics (14,3) | 50 | NEUTRAL | The Stochastics value for JRO is a neutral value. |
| Average True Range in percent/ATR (20) | 0.9 | LOW VOLATILITY | The low ATR as a percentage value for JRO suggests low volalility. |
| Average Directional Index/ADX (14) | 10.08 | NEGATIVE | The low ADX value for JRO suggests a weak or negative trend. |
Nuveen Floating Rate Income Opportunity Fund
NYSE:JRO (7/28/2023, 8:04:00 PM)
7.88
+0.08 (+1.03%)
Nuveen Floating Rate Income Opportunity Fund / JRO FAQ
What is the ChartMill technical rating of Nuveen Floating Rate Income Opportunity Fund (JRO) stock?
ChartMill assigns a technical rating of 3 / 10 to JRO.
Can you provide the trend direction for Nuveen Floating Rate Income Opportunity Fund?
The current trend direction for Nuveen Floating Rate Income Opportunity Fund (JRO) is Bearish.
What is the RSI signal for JRO stock?
Nuveen Floating Rate Income Opportunity Fund (JRO) has an RSI value of 58.6458. This indicates that the stock is currently neutral.
What is the short term momentum for Nuveen Floating Rate Income Opportunity Fund (JRO) stock?
The short term momentum for Nuveen Floating Rate Income Opportunity Fund (JRO) is positive.
What are the support and resistance levels for Nuveen Floating Rate Income Opportunity Fund (JRO) stock?
Nuveen Floating Rate Income Opportunity Fund (JRO) has a support level at 7.86 and a resistance level at 7.93. Check the full technical report for our detailed analysis of JRO support and resistance levels.