Eaton Vance Tax Advantaged Dividend Stock Forecast

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

EVT Signals & Forecast

There are few to no technical positive signals at the moment. The Eaton Vance Tax Advantaged Dividend 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 $22.60 and $23.00. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -5.74%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Eaton Vance Tax Advantaged Dividend stock

Eaton Vance Tax Advantaged Dividend finds support from accumulated volume at $22.10 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 $0.320 between high and low, or 1.44%. For the last week the stock has had daily average volatility of 1.58%.

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

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

For the upcoming trading day on Monday, 22nd we expect Eaton Vance Tax Advantaged Dividend Income Fund to open at $22.41, and during the day (based on 14 day Average True Range), to move between $22.01 and $22.63, which gives a possible trading interval of +/-$0.309 (+/-1.39%) up or down from last closing price. If Eaton Vance Tax Advantaged Dividend Income Fund takes out the full calculated possible swing range there will be an estimated 2.77% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $22.38 (0.27%) than the support at $22.10 (0.99%), 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 Tax Advantaged Dividend Income Fund stock A Buy?

The Eaton Vance Tax Advantaged Dividend stock holds several negative signals and despite the positive trend, we believe Eaton Vance Tax Advantaged Dividend will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.222 Sell Candidate Downgraded

Predicted Opening Price for Eaton Vance Tax Advantaged Dividend Income Fund of Monday, April 22, 2024

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