Eaton Vance New York Municipal Bond Fund Stock Forecast
Green day on Wednesday for Eaton Vance New York Municipal Bond Fund
(Updated on May 08, 2024)
The Eaton Vance New York Municipal Bond Fund stock price gained 0.321% on the last trading day (Wednesday, 8th May 2024), rising from $9.66 to $9.69. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.413% from a day low at $9.69 to a day high of $9.73. The price has risen in 6 of the last 10 days and is up by 1.69% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 14 thousand shares were bought and sold for approximately $135.36 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.
Given the current short-term trend, the stock is expected to fall -4.84% during the next 3 months and, with a 90% probability hold a price between $8.92 and $9.22 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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ENX Signals & Forecast
The Eaton Vance New York Municipal Bond Fund stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $9.56 and $9.59. 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 2.69%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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.
Support, Risk & Stop-loss for Eaton Vance New York Municipal Bond Fund stock
Eaton Vance New York Municipal Bond Fund finds support from accumulated volume at $9.69 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 $0.0400 between high and low, or 0.413%. For the last week the stock has had daily average volatility of 0.629%
Our recommended stop-loss: $9.25 (-4.52%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (ENX) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Eaton Vance New York Municipal Bond Fund to open at $9.70, and during the day (based on 14 day Average True Range), to move between $9.62 and $9.76, which gives a possible trading interval of +/-$0.0710 (+/-0.73%) up or down from last closing price. If Eaton Vance New York Municipal Bond Fund takes out the full calculated possible swing range there will be an estimated 1.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.69 (0.01%) than the resistance at $9.77 (0.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Eaton Vance New York 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.
Current score: 1.005 Buy Candidate Unchanged
Predicted Opening Price for Eaton Vance New York Municipal Bond Fund of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| $9.70 ( 0.131%) | $9.69 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ENX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.74 | 0.543 % | |
| R2 | 9.73 | 0.386 % | ||
| R1 | 9.72 | 0.288 % | ||
| Current price: | 9.69 | |||
| Support | S1 | 9.69 | -0.0270 % | |
| S2 | 9.68 | -0.124 % | ||
| S3 | 9.66 | -0.282 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.91 | 2.26 % | |
| R2 | 9.78 | 0.92 % | ||
| R1 | 9.77 | 0.82 % | ||
| Current price | 9.69 | |||
| Support | S1 | 9.69 | -0.0103% | |
| S2 | 9.63 | -0.629% | ||
| S3 | 9.45 | -2.49% |
ENX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2024 | May 23, 2024 | May 31, 2024 | $0.0394 | 0.407% |
| 2 | Apr 01, 2024 | Apr 22, 2024 | Apr 30, 2024 | $0.0394 | 0.417% |
| 3 | Mar 01, 2024 | Mar 20, 2024 | Mar 28, 2024 | $0.0394 | 0.406% |
| 4 | Feb 01, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.0394 | 0.398% |
| 5 | Jan 02, 2024 | Jan 22, 2024 | Jan 31, 2024 | $0.0394 | 0.402% |
FAQ
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