Eaton Vance Municipal Bond Fund Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Eaton Vance Municipal Bond Fund stock upgraded to Buy Candidate.
(Updated on May 08, 2024)
The Eaton Vance Municipal Bond Fund stock price gained 0.0951% on the last trading day (Wednesday, 8th May 2024), rising from $10.51 to $10.52. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 1.61% from a day low at $10.49 to a day high of $10.65. The price has risen in 7 of the last 10 days and is up by 4.52% over the past 2 weeks. Volume fell on the last day by -22 thousand shares and in total, 371 thousand shares were bought and sold for approximately $3.91 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.
Given the current short-term trend, the stock is expected to fall -3.51% during the next 3 months and, with a 90% probability hold a price between $9.54 and $10.15 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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EIM Signals & Forecast
Mostly positive signals in the chart today. The Eaton Vance Municipal Bond 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 $10.16 and $10.13. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 5.84%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for Eaton Vance Municipal Bond Fund stock
Eaton Vance Municipal Bond Fund finds support from accumulated volume at $10.38 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 $0.169 between high and low, or 1.61%. For the last week the stock has had daily average volatility of 1.21%.
The Eaton Vance Municipal Bond Fund stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs. Since the Eaton Vance Municipal Bond Fund has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $10.15 (-3.54%) (This stock has low daily movements and this gives low risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (EIM) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Eaton Vance Municipal Bond Fund to open at $10.55, and during the day (based on 14 day Average True Range), to move between $10.42 and $10.62, which gives a possible trading interval of +/-$0.103 (+/-0.98%) up or down from last closing price. If Eaton Vance Municipal Bond Fund takes out the full calculated possible swing range there will be an estimated 1.96% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $10.38, some $0.140 (1.33%) from the current price of $10.52, our system finds the risk reward attractive.
Is Eaton Vance Municipal Bond Fund stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.137 Buy Candidate Upgraded
Predicted Opening Price for Eaton Vance Municipal Bond Fund of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $10.55 ( 0.314%) | $10.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EIM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.72 | 1.92 % | |
| R2 | 10.66 | 1.31 % | ||
| R1 | 10.62 | 0.93 % | ||
| Current price: | 10.52 | |||
| Support | S1 | 10.49 | -0.300 % | |
| S2 | 10.45 | -0.679 % | ||
| S3 | 10.38 | -1.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 10.52 | |||
| Support | S1 | 10.38 | -1.33% | |
| S2 | 10.37 | -1.43% | ||
| S3 | 10.35 | -1.62% |
EIM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2024 | May 23, 2024 | May 31, 2024 | $0.0468 | 0.445% |
| 2 | Apr 01, 2024 | Apr 22, 2024 | Apr 30, 2024 | $0.0468 | 0.471% |
| 3 | Mar 01, 2024 | Mar 20, 2024 | Mar 28, 2024 | $0.0468 | 0.452% |
| 4 | Feb 01, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.0468 | 0.451% |
| 5 | Jan 02, 2024 | Jan 22, 2024 | Jan 31, 2024 | $0.0468 | 0.461% |
FAQ
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