Eaton Vance Tax-Managed Global Stock Forecast
Eaton Vance Tax-Managed Global stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The Eaton Vance Tax-Managed Global stock price gained 1.64% on the last trading day (Friday, 26th Apr 2024), rising from $7.91 to $8.04. During the last trading day the stock fluctuated 1.32% from a day low at $7.95 to a day high of $8.06. The price has fallen in 6 of the last 10 days but is still up by 0.88% 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, 24 thousand more shares were traded than the day before. In total, 424 thousand shares were bought and sold for approximately $3.41 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Eaton Vance Tax-Managed Global stock with a 90% probability to be traded between $7.93 and $8.33 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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EXG Signals & Forecast
The Eaton Vance Tax-Managed Global 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 $7.89 and $8.02. 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 3.34%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Eaton Vance Tax-Managed Global stock
Eaton Vance Tax-Managed Global finds support from accumulated volume at $8.03 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 $0.105 between high and low, or 1.32%. For the last week the stock has had daily average volatility of 1.24%.
Our recommended stop-loss: $7.64 (-4.97%) (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 (EXG) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Eaton Vance Tax-Managed Global Diversified Equity Income Fund to open at $8.02, and during the day (based on 14 day Average True Range), to move between $7.94 and $8.14, which gives a possible trading interval of +/-$0.0969 (+/-1.21%) up or down from last closing price. If Eaton Vance Tax-Managed Global Diversified Equity Income Fund takes out the full calculated possible swing range there will be an estimated 2.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.03 (0.12%) than the resistance at $8.08 (0.50%), 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 Tax-Managed Global Diversified Equity Income Fund 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 Tax-Managed Global stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.068 Buy Candidate Upgraded
Predicted Opening Price for Eaton Vance Tax-Managed Global Diversified Equity Income Fund of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $8.02 ( 0.311%) | $8.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EXG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.12 | 1.00 % | |
| R2 | 8.08 | 0.496 % | ||
| R1 | 8.06 | 0.188 % | ||
| Current price: | 8.04 | |||
| Support | S1 | 7.97 | -0.81 % | |
| S2 | 7.95 | -1.12 % | ||
| S3 | 7.91 | -1.62 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.16 | 1.49 % | |
| R2 | 8.10 | 0.746 % | ||
| R1 | 8.08 | 0.498 % | ||
| Current price | 8.04 | |||
| Support | S1 | 8.03 | -0.124% | |
| S2 | 7.93 | -1.37% | ||
| S3 | 7.91 | -1.62% |
EXG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 22, 2024 | Apr 30, 2024 | $0.0657 | 0.82% |
| 2 | Mar 01, 2024 | Mar 20, 2024 | Mar 28, 2024 | $0.0553 | 0.678% |
| 3 | Feb 01, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.0553 | 0.698% |
| 4 | Jan 02, 2024 | Jan 22, 2024 | Jan 31, 2024 | $0.0553 | 0.714% |
| 5 | Dec 01, 2023 | Dec 21, 2023 | Dec 29, 2023 | $0.0553 | 0.716% |
FAQ
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