Eaton Vance California Municipal Bond Fd Stock Forecast
Red day on Friday for Eaton Vance California Municipal Bond Fd
(Updated on May 17, 2024)
The Eaton Vance California Municipal Bond Fd stock price fell by -0.0523% on the last day (Friday, 17th May 2024) from $9.56 to $9.55. During the last trading day the stock fluctuated 0.630% from a day low at $9.52 to a day high of $9.58. The price has risen in 8 of the last 10 days and is up by 1.81% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -5 thousand shares and in total, 21 thousand shares were bought and sold for approximately $204.87 thousand.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $9.63 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Eaton Vance California Municipal Bond Fd stock with a 90% probability to be traded between $9.21 and $9.71 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.
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EVM Signals & Forecast
The Eaton Vance California Municipal Bond Fd 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 $9.50 and $9.37. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -0.0523%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The stock had a Golden Star Signal on Monday, May 06, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Monday, May 06, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A sell signal from a double top formation was found on Thursday, May 16, 2024 and based on theory for this formation the price should fall by -8.12% to $8.77 within 42 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for Eaton Vance California Municipal Bond Fd stock
Eaton Vance California Municipal Bond Fd finds support from accumulated volume at $9.54 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 $0.0600 between high and low, or 0.630%. For the last week the stock has had daily average volatility of 0.611%
Our recommended stop-loss: $9.21 (-3.60%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (EVM) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Eaton Vance California Municipal Bond Fd to open at $9.55, and during the day (based on 14 day Average True Range), to move between $9.47 and $9.63, which gives a possible trading interval of +/-$0.0757 (+/-0.79%) up or down from last closing price. If Eaton Vance California Municipal Bond Fd takes out the full calculated possible swing range there will be an estimated 1.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $9.56 (0.05%) than the support at $9.54 (0.10%), 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.
Earnings coming up
Eaton Vance California Municipal Bond Fd will release earnings BMO on Thursday, May 23, 2024. We will update the financials statements for Eaton Vance California Municipal Bond Fd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 0.92% in the first trading day after earnings release.
Is Eaton Vance California Municipal Bond Fd 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 California Municipal Bond Fd stock to perform well in the short-term period.
Current score: 1.295 Buy Candidate Unchanged
Predicted Opening Price for Eaton Vance California Municipal Bond Fd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $9.55 ( 0%) | $9.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EVM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.61 | 0.628 % | |
| R2 | 9.59 | 0.388 % | ||
| R1 | 9.57 | 0.240 % | ||
| Current price: | 9.55 | |||
| Support | S1 | 9.53 | -0.240 % | |
| S2 | 9.51 | -0.388 % | ||
| S3 | 9.49 | -0.628 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.58 | 0.314 % | |
| R2 | 9.56 | 0.115 % | ||
| R1 | 9.56 | 0.0524 % | ||
| Current price | 9.55 | |||
| Support | S1 | 9.54 | -0.105% | |
| S2 | 9.50 | -0.524% | ||
| S3 | 9.20 | -3.66% |
EVM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 23, 2024 | May 23, 2024 | May 31, 2024 | $0.0383 | 0.401% |
| 2 | Apr 01, 2024 | Apr 22, 2024 | Apr 30, 2024 | $0.0383 | 0.409% |
| 3 | Mar 01, 2024 | Mar 20, 2024 | Mar 28, 2024 | $0.0383 | 0.405% |
| 4 | Feb 01, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.0383 | 0.418% |
| 5 | Jan 02, 2024 | Jan 22, 2024 | Jan 31, 2024 | $0.0383 | 0.410% |
FAQ
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