Nuveen New Jersey Municipal Value Fund (NJV) Can’t Be Less Risky. The Stock Formed a Wedge Up Chart Pattern

The stock of Nuveen New Jersey Municipal Value Fund (NJV) formed an up wedge with $14.09 target or 5.00 % above today’s $13.42 share price. The 9 months wedge indicates low risk for the $20.75 million company. If the $14.09 price target is reached, the company will be worth $1.04M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 1.07% or $0.14 during the last trading session, reaching $13.42. About 759 shares traded. Nuveen New Jersey Municipal Value Fund (NYSE:NJV) has risen 0.18% since May 8, 2018 and is uptrending. It has underperformed by 4.19% the S&P500.

More important recent Nuveen New Jersey Municipal Value Fund (NYSE:NJV) news were published by: Businesswire.com which released: “Nuveen Closed-End Funds Declare Distributions – Business Wire” on February 01, 2019, also Seekingalpha.com published article titled: “Weekly CEF Roundup: NBB/NBD Lose Term Provision – Seeking Alpha”, Seekingalpha.com published: “Suggestions For Blackrock After Discussion With Chairman – Seeking Alpha” on August 02, 2018. More interesting news about Nuveen New Jersey Municipal Value Fund (NYSE:NJV) was released by: Seekingalpha.com and their article: “Weekly CEF Roundup: More Nuveen Cuts And NTG Rights Offering – Seeking Alpha” with publication date: June 21, 2018.

Nuveen New Jersey Municipal Value Fund is a close-ended fixed income mutual fund launched by Nuveen Investments Inc. The company has market cap of $20.75 million. It is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It has a 88.29 P/E ratio. The fund invests in fixed income markets of New Jersey.

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