Nuveen Equity Premium Opportunity Fund (NYSE:JSN) traded in a range yesterday that spanned from a low of $12.02 to a high of $12.23. Yesterday, the shares fell 1.39%, which took the trading range below the 3-day low of $12.17 on volume of 167,000 shares.
Shares of Nuveen Equity Premium Opportunity Fund are currently trading below their 50-day moving average (MA) of $12.72 and below their 200-day MA of $12.84. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Nuveen Equity Premium Opportunity Fund and our subscribers were alerted to Sell on May 06, 2010 at $12.11. The stock has fallen 0.7% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $12.17 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Closed End Fund- Equity industry.