Eaton Vance Tax-Managed Buy-Write Income Stock Forecast

Eaton Vance Tax-Managed Buy-Write Income stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Apr 18, 2024)

ETB Signals & Forecast

There are few to no technical positive signals at the moment. The Eaton Vance Tax-Managed Buy-Write Income 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 $13.40 and $13.54. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -3.43%. 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 fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Eaton Vance Tax-Managed Buy-Write Income stock

Eaton Vance Tax-Managed Buy-Write Income finds support from accumulated volume at $13.12 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 $0.120 between high and low, or 0.91%. For the last week the stock has had daily average volatility of 1.20%

Our recommended stop-loss: $12.50 (-5.41%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (ETB) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Eaton Vance Tax-Managed Buy-Write Income Fund to open at $13.25, and during the day (based on 14 day Average True Range), to move between $13.09 and $13.35, which gives a possible trading interval of +/-$0.132 (+/-1.00%) up or down from last closing price. If Eaton Vance Tax-Managed Buy-Write Income Fund takes out the full calculated possible swing range there will be an estimated 2.00% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $13.12 (0.76%) than the resistance at $13.43 (1.59%), 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 Buy-Write Income Fund stock A Buy?

Eaton Vance Tax-Managed Buy-Write Income 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.755 Hold/Accumulate Downgraded

Predicted Opening Price for Eaton Vance Tax-Managed Buy-Write Income Fund of Friday, April 19, 2024

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