Checking on another technical indicator, the 14-day RSI is now sitting at 42.85. Castleark Management Ltd Limited Liability Company stated it has 0.88% of its portfolio in Visa Inc (NYSE:V). When the RSI line moves up, the stock may be experiencing strength. When the RSI line moves up, the stock may be experiencing strength. The indicator can be used for smoothing price data, as well as for smoothing other indicators. An RSI reading over 70 would be considered overbought, and a reading under 30 would indicate oversold conditions. Closing price generally refers to the last price at which a stock trades during a regular trading session. Traders may use the indicator to determine stock trends or to identify overbought/oversold conditions.
Tracking the RSI levels for Nuveen Quality Municipal Income Fund (NAD), the 3-day RSI stands at 3.94, the 7-day sits at 18.55 and the 14-day (most common) is at 32.92. The rating scale runs from 1 to 5 with 5 indicating a Strong Sell, 1 indicating a Strong Buy and 3 indicating a Hold. CCI may also be used to help discover divergences that could possibly signal reversal moves. The Williams Percent Range or Williams %R is another technical indicator that may be useful for traders and investors. A level of 50 would indicate neutral market momentum. Many traders will use a combination of moving averages with multiple time periods to help spot stock trend direction. One of the most popular time frames using RSI is the 14-day. Nuveen California AMT-Free Quality Municipal Income Fund (NKX)'s Williams %R presently stands at -88.37. The Williams %R fluctuates between 0 and -100 measuring whether a security is overbought or oversold. A reading between 0 and -20 would indicate an overbought situation. On the other hand, a reading of -100 would imply that the stock is oversold and possibly set for a rally. Two Sigma Securities Limited Liability Company holds 0.08% in Nuveen Credit Strategies Income Fund (NYSE:JQC) or 27,511 shares. Many chart analysts believe that an ADX reading over 25 would suggest a strong trend. A value of 50-75 would signify a very strong trend, and a value of 75-100 would point to an extremely strong trend.
The Average Directional Index or ADX is technical analysis indicator used to discern if a market is trending or not trending. Traders often add the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of a trend. The 50 day moving average was down $-0.03 or -0.20% whereas the 200 day moving average was up $0.39 or +2.67%. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a specific period of time. Moving averages are a popular trading tool among investors.
Taking a glance at the relative strength indictor, we note that the 14-day RSI is now at 23.07, the 7-day stands at 24.34, and the 3-day is sitting at 35.24. Keeping an eye on historical corrections as well as sentiment and technicals, may help provide the proper insight needed. Being ready for a pullback can help if investors already have some names in mind that they are looking to scoop up when they fall to a certain level.