Eaton Vance Senior Floating-Rate Fund Stock Forecast
Eaton Vance Senior Floating-Rate Fund stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 03, 2024)
The Eaton Vance Senior Floating-Rate Fund stock price gained 0.535% on the last trading day (Friday, 3rd May 2024), rising from $13.09 to $13.16. During the last trading day the stock fluctuated 1.23% from a day low at $13.04 to a day high of $13.20. The price has risen in 6 of the last 10 days and is up by 0.53% over the past 2 weeks. Volume fell on the last day by -25 thousand shares and in total, 57 thousand shares were bought and sold for approximately $753.99 thousand. 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 narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $13.19 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Eaton Vance Senior Floating-Rate Fund stock with a 90% probability to be traded between $12.90 and $13.23 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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EFR Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -0.152%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The Eaton Vance Senior Floating-Rate Fund 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 $13.11 and $13.05. A breakdown below any of these levels will issue sell signals. The stock had a Golden Star Signal on Friday, April 05, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, April 05, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A sell signal from a double top formation was found on Thursday, April 11, 2024 and based on theory for this formation the price should fall by -4.65% to $12.55 within 11 trading days since signal was issued (Monday, May 06, 2024).
Support, Risk & Stop-loss for Eaton Vance Senior Floating-Rate Fund stock
Eaton Vance Senior Floating-Rate Fund finds support from accumulated volume at $13.09 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.160 between high and low, or 1.23%. For the last week the stock has had daily average volatility of 1.11%
Our recommended stop-loss: $12.75 (-3.15%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (EFR) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Eaton Vance Senior Floating-Rate Fund to open at $13.13, and during the day (based on 14 day Average True Range), to move between $13.04 and $13.28, which gives a possible trading interval of +/-$0.122 (+/-0.93%) up or down from last closing price. If Eaton Vance Senior Floating-Rate Fund takes out the full calculated possible swing range there will be an estimated 1.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $13.18 (0.15%) than the support at $13.09 (0.53%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Eaton Vance Senior Floating-Rate Fund stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Eaton Vance Senior Floating-Rate Fund stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.462 Buy Candidate Upgraded
Predicted Opening Price for Eaton Vance Senior Floating-Rate Fund of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $13.13 ( 0.203%) | $13.16 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EFR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.29 | 1.01 % | |
| R2 | 13.23 | 0.549 % | ||
| R1 | 13.19 | 0.262 % | ||
| Current price: | 13.16 | |||
| Support | S1 | 13.07 | -0.667 % | |
| S2 | 13.03 | -0.95 % | ||
| S3 | 12.97 | -1.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.24 | 0.608 % | |
| R2 | 13.20 | 0.304 % | ||
| R1 | 13.18 | 0.152 % | ||
| Current price | 13.16 | |||
| Support | S1 | 13.09 | -0.532% | |
| S2 | 13.08 | -0.608% | ||
| S3 | 12.99 | -1.29% |
EFR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 22, 2024 | Apr 30, 2024 | $0.121 | 0.93% |
| 2 | Mar 01, 2024 | Mar 20, 2024 | Mar 28, 2024 | $0.121 | 0.93% |
| 3 | Feb 01, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.121 | 0.93% |
| 4 | Dec 18, 2023 | Dec 27, 2023 | Jan 15, 2024 | $0.121 | 0.95% |
| 5 | Dec 01, 2023 | Dec 21, 2023 | Dec 29, 2023 | $0.121 | 0.96% |
FAQ
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