Eaton Vance Tax-Advantage Global Stock Forecast
Eaton Vance Tax-Advantage Global stock upgraded to Strong Buy Candidate.
(Updated on Jul 02, 2024)
The Eaton Vance Tax-Advantage Global stock price gained 1.27% on the last trading day (Tuesday, 2nd Jul 2024), rising from $25.26 to $25.58. During the last trading day the stock fluctuated 1.42% from a day low at $25.25 to a day high of $25.61. The price has been going up and down for this period, and there has been a 0.79% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 33 thousand shares were bought and sold for approximately $855.11 thousand.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.08% during the next 3 months and, with a 90% probability hold a price between $26.37 and $27.94 at the end of this 3-month period.
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ETO Signals & Forecast
Mostly positive signals in the chart today. The Eaton Vance Tax-Advantage Global 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 $25.34 and $25.34. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 10, 2024, and so far it has risen 2.16%. 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). Eaton Vance Tax-Advantage Global has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
A sell signal from a double top formation was found on Thursday, June 06, 2024 and based on theory for this formation the price should fall by -4.66% to $24.39 within 11 trading days since signal was issued (Monday, June 24, 2024).
Support, Risk & Stop-loss for Eaton Vance Tax-Advantage Global stock
Eaton Vance Tax-Advantage Global finds support from accumulated volume at $25.16 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 $0.359 between high and low, or 1.42%. For the last week the stock has had daily average volatility of 1.11%.
Our recommended stop-loss: $24.15 (-5.59%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (ETO) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Eaton Vance Tax-Advantage Global Dividend Opp to open at $25.48, and during the day (based on 14 day Average True Range), to move between $25.28 and $25.88, which gives a possible trading interval of +/-$0.299 (+/-1.17%) up or down from last closing price. If Eaton Vance Tax-Advantage Global Dividend Opp takes out the full calculated possible swing range there will be an estimated 2.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $25.61 (0.12%) than the support at $25.16 (1.64%), 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 Tax-Advantage Global Dividend Opp stock A Buy?
Eaton Vance Tax-Advantage Global holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Buy candidate.
Current score: 5.012 Strong Buy Candidate Upgraded
Predicted Opening Price for Eaton Vance Tax-Advantage Global Dividend Opp of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $25.48 ( 0.392%) | $25.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ETO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.84 | 1.01% |
| R2 | 25.70 | 0.474% |
| R1 | 25.62 | 0.143% |
| Price | 25.58 | |
| S1 | 25.34 | -0.93% |
| S2 | 25.26 | -1.26% |
| S3 | 25.12 | -1.80% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.67 | 0.352% |
| R2 | 25.66 | 0.313% |
| R1 | 25.61 | 0.117% |
| Price | 25.58 | |
| S1 | 25.16 | -1.64% |
| S2 | 25.04 | -2.11% |
| S3 | 24.48 | -4.30% |
ETO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2024 | May 23, 2024 | May 23, 2024 | $0 | 0% |
| 2 | Apr 01, 2024 | Apr 22, 2024 | Apr 30, 2024 | $0.173 | 0.716% |
| 3 | Mar 01, 2024 | Mar 20, 2024 | Mar 28, 2024 | $0.137 | 0.550% |
| 4 | Feb 01, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.137 | 0.562% |
| 5 | Jan 02, 2024 | Jan 22, 2024 | Jan 31, 2024 | $0.137 | 0.576% |
FAQ
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