Fri 15'th Jun 2018
Eaton Vance Tax-Advantaged Global Dividend Income Fund Stock Analysis
Technical stock analysis for Fri 15'th Jun 2018
Eaton Vance Tax-Advantaged Global Dividend Income Fund gained 0.06% in the last trading day, rising from $17.46 to $17.47 , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. The price has risen in 9 of the last 10 days and is up by 3.01% over the past 2 weeks. Volume fell in the last day by -16 528 shares, and in total, 156 079 shares bought and sold for approximately $0.00. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Eaton Vance Tax-Advantaged Global Dividend Income Fund lies in the upper part of a narrow and weak rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $17.51 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 3.23% during the next 3 months and, with 90% probability hold a price between $17.45 and $18.07 at the end of this period.
Only positive signals in the chart today. Eaton Vance Tax-Advantaged Global Dividend Income Fund holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $17.34 and $17.07. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday May 29, 2018, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
* Golden Star Signal* is when the short-term moving average, the long-term moving average, and priceline meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Relative Strength Index (RSI)
The stock holds a RSI14 at 74 and is currently being overbought on RSI. This does not have to be a sales signal as many stocks may go both long and hard while being overbought on the RSI. It is therefore important to evaluate the history of the share as it may tell you something about the RSI-sensitiveness.
Support & Resistance
Eaton Vance Tax-Advantaged Global Dividend Income Fund finds support from accumulated volume at $17.08.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.10 (0.58%) between high and low. For the last week, the stock has had a daily average volatility of 0.53%.
The stock is overbought on RSI14 and lies in the upper part of the trend. Normally this will pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trendposition increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs. Since the Eaton Vance Tax-Advantaged Global Dividend Income Fund has been rising for 6 days in a row, the risk for the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stoploss: $16.67 (-4.59%) (This stock has low daily movements and this gives low risk. The RSI14 is 74 and this increases the risk substantially. There is a buy signal from pivot bottom found 13 days ago.)
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Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Strong Buy Candidate to a Buy Candidate.
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