Eaton Vance Municipal Income Trust Stock Forecast
Green day on Wednesday for Eaton Vance Municipal Income Trust stock after gaining 0.204%
(Updated on May 01, 2024)
The Eaton Vance Municipal Income Trust stock price gained 0.204% on the last trading day (Wednesday, 1st May 2024), rising from $9.82 to $9.84. During the last trading day the stock fluctuated 0.612% from a day low at $9.80 to a day high of $9.86. The price has fallen in 7 of the last 10 days and is down by -0.81% for this period. Volume fell on the last day by -422 shares and in total, 84 thousand shares were bought and sold for approximately $823.25 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower of a narrow and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $9.78 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.66% during the next 3 months and, with a 90% probability hold a price between $9.43 and $9.74 at the end of this 3-month period. 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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EVN Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 0.306%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Eaton Vance Municipal Income Trust 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 $9.85 and $10.04. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Eaton Vance Municipal Income Trust stock
Eaton Vance Municipal Income Trust finds support from accumulated volume at $9.83 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 0.612%. For the last week the stock has had daily average volatility of 0.520%
Our recommended stop-loss: $9.27 (-5.78%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (EVN) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Eaton Vance Municipal Income Trust to open at $9.83, and during the day (based on 14 day Average True Range), to move between $9.76 and $9.92, which gives a possible trading interval of +/-$0.0839 (+/-0.85%) up or down from last closing price. If Eaton Vance Municipal Income Trust takes out the full calculated possible swing range there will be an estimated 1.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.83 (0.10%) than the resistance at $10.20 (3.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Eaton Vance Municipal Income Trust stock A Buy?
Eaton Vance Municipal Income Trust holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.216 Hold/Accumulate Unchanged
Predicted Opening Price for Eaton Vance Municipal Income Trust of Thursday, May 2, 2024
Fair opening price May 2, 2024 | Current price |
---|---|
$9.83 ( 0.0678%) | $9.84 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EVN
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.89 | 0.542 % | |
R2 | 9.87 | 0.309 % | ||
R1 | 9.86 | 0.165 % | ||
Current price: | 9.84 | |||
Support | S1 | 9.81 | -0.301 % | |
S2 | 9.80 | -0.445 % | ||
S3 | 9.77 | -0.678 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.26 | 4.27 % | |
R2 | 10.22 | 3.86 % | ||
R1 | 10.20 | 3.66 % | ||
Current price | 9.84 | |||
Support | S1 | 9.83 | -0.102% | |
S2 | 9.82 | -0.203% | ||
S3 | 9.81 | -0.305% |
EVN Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 01, 2024 | Apr 10, 2024 | Apr 18, 2024 | $0.0461 | 0.467% |
2 | Mar 08, 2024 | Mar 08, 2024 | Mar 18, 2024 | $0.0461 | 0.449% |
3 | Feb 01, 2024 | Feb 12, 2024 | Feb 20, 2024 | $0.0461 | 0.450% |
4 | Jan 02, 2024 | Jan 11, 2024 | Jan 19, 2024 | $0.0461 | 0.470% |
5 | Dec 01, 2023 | Dec 08, 2023 | Dec 18, 2023 | $0.0375 | 0.384% |
FAQ
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