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Nuveen Texas Quality Municipal Income Fund (NTX) Draws Bearish Attention After Forming Ascending Triangle Pattern

December 8, 2017 - By Michael Collier

Investors sentiment increased to 1.2 in 2017 Q2. Its up 0.20, from 1 in 2017Q1. It improved, 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.
Atlanta Cap Group has 0.08% invested in Nuveen Texas Quality Municipal Income Fund (NYSE:NTX) for 33,621 shares. Fort Washington Inv Advisors Oh reported 0% in Nuveen Texas Quality Municipal Income Fund (NYSE:NTX). Rmb Cap Ltd has 0.01% invested in Nuveen Texas Quality Municipal Income Fund (NYSE:NTX) for 19,318 shares. Moreover, Morgan Stanley has 0% invested in Nuveen Texas Quality Municipal Income Fund (NYSE:NTX) for 5,662 shares. Utd Capital Finance Advisers Ltd Company accumulated 12,438 shares or 0% of the stock. Whittier Trust has invested 0.01% in Nuveen Texas Quality Municipal Income Fund (NYSE:NTX). Commercial Bank Of America De accumulated 3,559 shares. Fruth Invest invested in 17,300 shares or 0.12% of the stock. Fifth Third Bancorp holds 0% or 500 shares in its portfolio. Royal Natl Bank Of Canada owns 0% invested in Nuveen Texas Quality Municipal Income Fund (NYSE:NTX) for 432 shares. Manufacturers Life Ins The, a Ontario – Canada-based fund reported 1,517 shares. 18,375 were reported by Lpl Finance Ltd Liability. Brown Advisory has invested 0% in Nuveen Texas Quality Municipal Income Fund (NYSE:NTX). Fiera Capital stated it has 0% in Nuveen Texas Quality Municipal Income Fund (NYSE:NTX). Pnc Financial Ser Gp Inc Inc has invested 0% in Nuveen Texas Quality Municipal Income Fund (NYSE:NTX).

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: Businesswire.com which released: “Several Nuveen Closed-End Funds Announce Fund Name Changes” on November 17, 2016, also Forbes.com published article titled: “How To Get 5% Dividends Tax Free”, Marketwatch.com published: “Nuveen Texas Quality Municipal Income Fund” on June 13, 2011. More interesting news about Nuveen Texas Quality Municipal Income Fund (NYSE:NTX) was released by: Investorplace.com and their article: “3 High-Yield Closed-End Funds for Tax-Free Income” with publication date: August 28, 2017.

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