Eaton Vance Corporation Stock Forecast
Eaton Vance Corporation stock upgraded from Hold/Accumulate to Strong Buy Candidate after Wednesday trading session.
(Updated on Jun 12, 2024)
The Eaton Vance Corporation stock price gained 0.721% on the last trading day (Wednesday, 12th Jun 2024), rising from $13.18 to $13.27. During the last trading day the stock fluctuated 0.756% from a day low at $13.22 to a day high of $13.32. The price has risen in 5 of the last 10 days and is up by 3.03% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 177 thousand shares were bought and sold for approximately $2.35 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $13.32 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Eaton Vance Corporation stock with a 90% probability to be traded between $12.84 and $13.53 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ETV Signals & Forecast
The Eaton Vance Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $13.18 and $12.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 5.99%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Eaton Vance Corporation stock
Eaton Vance Corporation finds support from accumulated volume at $13.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.1000 between high and low, or 0.756%. For the last week the stock has had daily average volatility of 0.646%.
Our recommended stop-loss: $12.83 (-3.34%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 57 days ago.)
Trading Expectations (ETV) For The Upcoming Trading Day Of Thursday 13th
For the upcoming trading day on Thursday, 13th we expect Eaton Vance Corporation to open at $13.27, and during the day (based on 14 day Average True Range), to move between $13.15 and $13.39, which gives a possible trading interval of +/-$0.122 (+/-0.92%) up or down from last closing price. If Eaton Vance Corporation takes out the full calculated possible swing range there will be an estimated 1.84% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $13.00, some $0.270 (2.03%) from the current price of $13.27, our system finds the risk reward attractive.
Is Eaton Vance Corporation stock A Buy?
Eaton Vance Corporation holds several positive signals and is considered to be a good choice at current levels. We expect the Eaton Vance Corporation stock to perform great in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.343 Strong Buy Candidate Upgraded
Predicted Opening Price for Eaton Vance Corporation of Thursday, June 13, 2024
| Fair opening price June 13, 2024 | Current price |
|---|---|
| $13.27 ( 0.00000000%) | $13.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ETV
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.37 | 0.754% |
| R2 | 13.33 | 0.466% |
| R1 | 13.31 | 0.288% |
| Price | 13.27 | |
| S1 | 13.23 | -0.288% |
| S2 | 13.21 | -0.466% |
| S3 | 13.17 | -0.754% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 13.27 | |
| S1 | 13.00 | -2.03% |
| S2 | 12.97 | -2.26% |
| S3 | 12.93 | -2.56% |
ETV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2024 | May 23, 2024 | May 31, 2024 | $0.0993 | 0.762% |
| 2 | Apr 01, 2024 | Apr 22, 2024 | Apr 30, 2024 | $0.0993 | 0.784% |
| 3 | Mar 01, 2024 | Mar 20, 2024 | Mar 28, 2024 | $0.0949 | 0.734% |
| 4 | Feb 01, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.0949 | 0.732% |
| 5 | Jan 02, 2024 | Jan 22, 2024 | Jan 31, 2024 | $0.0949 | 0.763% |
FAQ
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