Eaton Vance Enhance Equity Income Fund Stock Forecast
Eaton Vance Enhance Equity Income Fund stock price up 0.90% on Monday
(Updated on Apr 22, 2024)
The Eaton Vance Enhance Equity Income Fund stock price gained 0.90% on the last trading day (Monday, 22nd Apr 2024), rising from $17.70 to $17.86. During the last trading day the stock fluctuated 1.44% from a day low at $17.70 to a day high of $17.95. The price has fallen in 6 of the last 10 days and is down by -2.83% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 35 thousand more shares were traded than the day before. In total, 85 thousand shares were bought and sold for approximately $1.52 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $17.72 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 6.22% during the next 3 months and, with a 90% probability hold a price between $18.82 and $20.58 at the end of this 3-month period.
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EOI Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.90%. 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. The Eaton Vance Enhance Equity Income Fund 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 $17.92 and $18.23. 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).
Support, Risk & Stop-loss for Eaton Vance Enhance Equity Income Fund stock
Eaton Vance Enhance Equity Income Fund finds support from accumulated volume at $17.68 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 $0.254 between high and low, or 1.44%. For the last week the stock has had daily average volatility of 1.24%.
Our recommended stop-loss: $16.82 (-5.84%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (EOI) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Eaton Vance Enhance Equity Income Fund to open at $17.84, and during the day (based on 14 day Average True Range), to move between $17.59 and $18.13, which gives a possible trading interval of +/-$0.270 (+/-1.51%) up or down from last closing price. If Eaton Vance Enhance Equity Income Fund takes out the full calculated possible swing range there will be an estimated 3.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.87 (0.06%) than the support at $17.68 (1.01%), 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 Enhance Equity Income Fund stock A Buy?
Eaton Vance Enhance Equity Income Fund 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: 0.455 Hold/Accumulate Unchanged
Predicted Opening Price for Eaton Vance Enhance Equity Income Fund of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $17.84 ( 0.138%) | $17.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EOI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.09 | 1.28 % | |
| R2 | 17.99 | 0.741 % | ||
| R1 | 17.93 | 0.405 % | ||
| Current price: | 17.86 | |||
| Support | S1 | 17.74 | -0.681 % | |
| S2 | 17.68 | -1.02 % | ||
| S3 | 17.58 | -1.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.23 | 2.07 % | |
| R2 | 18.02 | 0.90 % | ||
| R1 | 17.87 | 0.0560 % | ||
| Current price | 17.86 | |||
| Support | S1 | 17.68 | -1.01% | |
| S2 | 17.18 | -3.81% | ||
| S3 | 16.99 | -4.87% |
EOI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 22, 2024 | Apr 30, 2024 | $0.134 | 0.750% |
| 2 | Mar 01, 2024 | Mar 20, 2024 | Mar 28, 2024 | $0.110 | 0.601% |
| 3 | Feb 01, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.110 | 0.608% |
| 4 | Jan 02, 2024 | Jan 22, 2024 | Jan 31, 2024 | $0.110 | 0.644% |
| 5 | Dec 01, 2023 | Dec 21, 2023 | Dec 29, 2023 | $0.110 | 0.660% |
FAQ
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