Eaton Vance Enhanced Equity Income Fund Stock Forecast
Red day on Thursday for Eaton Vance Enhanced Equity Income Fund
(Updated on Mar 28, 2024)
The Eaton Vance Enhanced Equity Income Fund stock price fell by -0.0496% on the last day (Thursday, 28th Mar 2024) from $20.18 to $20.17. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 0.90% from a day low at $20.09 to a day high of $20.27. The price has fallen in 6 of the last 10 days and is down by -0.64% for this period. Volume has increased on the last day by 106 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 196 thousand shares were bought and sold for approximately $3.95 million.
The stock lies in the lower part of a narrow and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $20.07 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 10.62% during the next 3 months and, with a 90% probability hold a price between $22.20 and $23.19 at the end of this 3-month period.
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EOS Signals & Forecast
A sell signal was issued from a pivot top point on Tuesday, March 12, 2024, and so far it has fallen -1.94%. 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. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Eaton Vance Enhanced Equity Income Fund stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $20.25. On a fall, the stock will find some support from the long-term average at approximately $20.13. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.
Support, Risk & Stop-loss for Eaton Vance Enhanced Equity Income Fund stock
Eaton Vance Enhanced Equity Income Fund finds support from accumulated volume at $19.97 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 $0.180 between high and low, or 0.90%. For the last week the stock has had daily average volatility of 0.88%.
Our recommended stop-loss: $19.48 (-3.41%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (EOS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Eaton Vance Enhanced Equity Income Fund II to open at $20.18, and during the day (based on 14 day Average True Range), to move between $19.93 and $20.41, which gives a possible trading interval of +/-$0.236 (+/-1.17%) up or down from last closing price. If Eaton Vance Enhanced Equity Income Fund II takes out the full calculated possible swing range there will be an estimated 2.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $20.18 (0.05%) than the support at $19.97 (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 Enhanced Equity Income Fund II stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 2.006 Buy Candidate Unchanged
Predicted Opening Price for Eaton Vance Enhanced Equity Income Fund II of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$20.18 ( 0.0331%) | $20.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EOS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 20.36 | 0.93 % | |
R2 | 20.29 | 0.585 % | ||
R1 | 20.25 | 0.374 % | ||
Current price: | 20.17 | |||
Support | S1 | 20.11 | -0.308 % | |
S2 | 20.07 | -0.518 % | ||
S3 | 20.00 | -0.86 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 20.35 | 0.89 % | |
R2 | 20.28 | 0.545 % | ||
R1 | 20.18 | 0.0496 % | ||
Current price | 20.17 | |||
Support | S1 | 19.97 | -0.99% | |
S2 | 19.94 | -1.14% | ||
S3 | 18.72 | -7.19% |
EOS Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 01, 2024 | Mar 20, 2024 | Mar 28, 2024 | $0.115 | 0.571% |
2 | Feb 01, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.115 | 0.575% |
3 | Jan 02, 2024 | Jan 22, 2024 | Jan 31, 2024 | $0.115 | 0.607% |
4 | Dec 01, 2023 | Dec 21, 2023 | Dec 29, 2023 | $0.115 | 0.615% |
5 | Nov 01, 2023 | Nov 21, 2023 | Nov 30, 2023 | $0.115 | 0.622% |
FAQ
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