Eaton Vance Tax-Advantage Global Stock Forecast

Weaker technical forecast for Eaton Vance Tax-Advantage Global as stock downgraded to Sell Candidate.
(Updated on Apr 19, 2024)

ETO Signals & Forecast

There are few to no technical positive signals at the moment. The Eaton Vance Tax-Advantage Global stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $23.97 and $24.61. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -6.08%. 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). Eaton Vance Tax-Advantage Global gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Eaton Vance Tax-Advantage Global stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

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 $0.319 between high and low, or 1.35%. For the last week the stock has had daily average volatility of 1.29%.

Eaton Vance Tax-Advantage Global is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ETO) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Eaton Vance Tax-Advantage Global Dividend Opp to open at $23.74, and during the day (based on 14 day Average True Range), to move between $23.34 and $23.94, which gives a possible trading interval of +/-$0.297 (+/-1.26%) 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 2.52% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $23.91, some $0.270 (1.14%) from the current price of $23.64, our system finds the risk reward not very attractive.

Is Eaton Vance Tax-Advantage Global Dividend Opp stock A Buy?

Eaton Vance Tax-Advantage Global holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.253 Sell Candidate Downgraded

Predicted Opening Price for Eaton Vance Tax-Advantage Global Dividend Opp of Monday, April 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.