Nuveen Texas Quality Municipal Income Fund (NTX)’s Stock Formed A Several Months Ascending Triangle

December 8, 2017 - By Clifton Ray

Investors sentiment increased to 1.2 in 2017 Q2. Its up 0.20, from 1 in 2017Q1. It increased, as 1 investors sold Nuveen Texas Quality Municipal Income Fund shares while 4 reduced holdings. 3 funds opened positions while 3 raised stakes. 260,669 shares or 23.36% less from 340,124 shares in 2017Q1 were reported.
Royal Retail Bank Of Canada owns 432 shares. Wells Fargo And Co Mn has invested 0% in Nuveen Texas Quality Municipal Income Fund (NYSE:NTX). Brown Advisory holds 24,430 shares or 0% of its portfolio. Pnc Financial Services Grp owns 1,000 shares. Lpl Financial Limited Co accumulated 18,375 shares. Fort Washington Invest Advisors Oh invested in 0% or 21,500 shares. Manufacturers Life Insur Company The accumulated 1,517 shares. Creative Planning holds 0% or 5,000 shares. Comml Bank Of America De holds 3,559 shares. Whittier Tru Com has 0.01% invested in Nuveen Texas Quality Municipal Income Fund (NYSE:NTX). Fiera Corp accumulated 38,276 shares. Utd Fin Advisers Ltd Llc holds 12,438 shares or 0% of its portfolio. Rmb Capital Mgmt Ltd Liability Company owns 19,318 shares for 0.01% of their portfolio. Morgan Stanley stated it has 5,662 shares or 0% of all its holdings. Fifth Third Bancshares invested in 0% or 500 shares.

The stock of Nuveen Texas Quality Municipal Income Fund (NTX) formed an ascending triangle with $13.11 target or 9.00 % below today’s $14.41 share price. The 9 months triangle pattern indicates high risk for the $144.49M company. If the $13.11 price target is reached, the company will be worth $13.00M less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock decreased 0.62% or $0.09 during the last trading session, reaching $14.41. About 10,857 shares traded. Nuveen Texas Quality Municipal Income Fund (NYSE:NTX) has declined 4.02% since December 8, 2016 and is downtrending. It has underperformed by 20.72% the S&P500.

More important recent Nuveen Texas Quality Municipal Income Fund (NYSE:NTX) news were published by: Forbes.com which released: “How To Get 5% Dividends Tax Free” on September 24, 2016, also Businesswire.com published article titled: “Several Nuveen Closed-End Funds Announce Fund Name Changes”, Investorplace.com published: “3 High-Yield Closed-End Funds for Tax-Free Income” on August 28, 2017. More interesting news about Nuveen Texas Quality Municipal Income Fund (NYSE:NTX) was released by: Marketwatch.com and their article: “Nuveen Texas Quality Municipal Income Fund” with publication date: June 13, 2011.

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