What’s Propelling Nuveen Massachusetts Quality Mu (NMT) to Decrease? The Stock Formed a Wedge Down Pattern

November 10, 2018 - By Adrian Erickson

The stock of Nuveen Massachusetts Quality Mu (NMT) formed a down wedge with $10.86 target or 8.00 % below today’s $11.80 share price. The 8 months wedge indicates high risk for the $110.32 million company. If the $10.86 price target is reached, the company will be worth $8.83 million less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 0.60% or $0.07 during the last trading session, reaching $11.8. About 24,479 shares traded or 72.97% up from the average. Nuveen Massachusetts Quality Mu (NYSE:NMT) has declined 15.19% since November 10, 2017 and is downtrending. It has underperformed by 30.81% the S&P500.

Nuveen Massachusetts Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc. The company has market cap of $110.32 million. The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It has a 65.56 P/E ratio. It invests in the fixed income markets of Massachusetts, United States.

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