Eaton Vance Municipal Income 2028 Term Stock Forecast

Eaton Vance Municipal Income 2028 Term stock price ended at $17.98 on Friday, after gaining 0.390%.
(Updated on Apr 19, 2024)

ETX Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 1.81%. 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 Municipal Income 2028 Term 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Eaton Vance Municipal Income 2028 Term stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $18.02. On a fall, the stock will find some support from the short-term average at $17.90. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Eaton Vance Municipal Income 2028 Term stock

Eaton Vance Municipal Income 2028 Term finds support from accumulated volume at $17.81 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 $0.170 between high and low, or 0.95%. For the last week the stock has had daily average volatility of 0.89%.

Our recommended stop-loss: $16.98 (-5.54%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)

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

For the upcoming trading day on Monday, 22nd we expect Eaton Vance Municipal Income 2028 Term Trust to open at $17.94, and during the day (based on 14 day Average True Range), to move between $17.81 and $18.15, which gives a possible trading interval of +/-$0.170 (+/-0.95%) up or down from last closing price. If Eaton Vance Municipal Income 2028 Term Trust takes out the full calculated possible swing range there will be an estimated 1.90% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $17.99 (0.06%) than the support at $17.81 (0.94%), 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 Municipal Income 2028 Term Trust stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Eaton Vance Municipal Income 2028 Term stock to perform well in the short-term period.

Current score: 3.444 Buy Candidate Unchanged

Predicted Opening Price for Eaton Vance Municipal Income 2028 Term Trust of Monday, April 22, 2024

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