Eaton Vance Corporation Stock Forecast
Eaton Vance Corporation stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)
The Eaton Vance Corporation stock price gained 1.10% on the last trading day (Friday, 3rd May 2024), rising from $12.73 to $12.87. During the last trading day the stock fluctuated 1.04% from a day low at $12.82 to a day high of $12.95. The price has risen in 6 of the last 10 days and is up by 2.63% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 64 thousand more shares were traded than the day before. In total, 279 thousand shares were bought and sold for approximately $3.59 million.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Eaton Vance Corporation stock with a 90% probability to be traded between $12.31 and $12.85 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. 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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ETV Signals & Forecast
The Eaton Vance Corporation 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 $12.67 and $12.82. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 2.80%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Eaton Vance Corporation stock
Eaton Vance Corporation finds support from accumulated volume at $12.66 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 $0.134 between high and low, or 1.04%. For the last week the stock has had daily average volatility of 1.12%.
Our recommended stop-loss: $12.21 (-5.10%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (ETV) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Eaton Vance Corporation to open at $12.88, and during the day (based on 14 day Average True Range), to move between $12.72 and $13.02, which gives a possible trading interval of +/-$0.150 (+/-1.17%) up or down from last closing price. If Eaton Vance Corporation takes out the full calculated possible swing range there will be an estimated 2.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $12.91 (0.31%) than the support at $12.66 (1.63%), 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 Corporation stock A Buy?
Eaton Vance Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.852 Hold/Accumulate Upgraded
Predicted Opening Price for Eaton Vance Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $12.88 ( 0.0619%) | $12.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ETV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.01 | 1.10 % | |
| R2 | 12.96 | 0.705 % | ||
| R1 | 12.93 | 0.459 % | ||
| Current price: | 12.87 | |||
| Support | S1 | 12.83 | -0.336 % | |
| S2 | 12.80 | -0.581 % | ||
| S3 | 12.74 | -0.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.00 | 1.01 % | |
| R2 | 12.93 | 0.466 % | ||
| R1 | 12.91 | 0.311 % | ||
| Current price | 12.87 | |||
| Support | S1 | 12.66 | -1.63% | |
| S2 | 12.62 | -1.94% | ||
| S3 | 12.54 | -2.56% |
ETV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 22, 2024 | Apr 30, 2024 | $0.0993 | 0.784% |
| 2 | Mar 01, 2024 | Mar 20, 2024 | Mar 28, 2024 | $0.0949 | 0.734% |
| 3 | Feb 01, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.0949 | 0.732% |
| 4 | Jan 02, 2024 | Jan 22, 2024 | Jan 31, 2024 | $0.0949 | 0.763% |
| 5 | Dec 01, 2023 | Dec 21, 2023 | Dec 29, 2023 | $0.0949 | 0.770% |
FAQ
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