Eaton Vance Tax-Advantage Global Stock Forecast
Eaton Vance Tax-Advantage Global stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Eaton Vance Tax-Advantage Global stock price fell by -0.664% on the last day (Wednesday, 24th Apr 2024) from $24.09 to $23.93. During the last trading day the stock fluctuated 1.17% from a day low at $23.93 to a day high of $24.21. The price has fallen in 5 of the last 10 days and is down by -2.25% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -5 thousand shares and in total, 17 thousand shares were bought and sold for approximately $397.57 thousand.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $23.64 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Eaton Vance Tax-Advantage Global stock with a 90% probability to be traded between $23.72 and $25.29 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ETO Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.23%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Eaton Vance Tax-Advantage Global stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $24.55. On a fall, the stock will find some support from the short-term average at $23.86. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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-Advantage Global stock
Eaton Vance Tax-Advantage Global finds support from accumulated volume at $23.91 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 $0.280 between high and low, or 1.17%. For the last week the stock has had daily average volatility of 1.01%
Our recommended stop-loss: $22.53 (-5.84%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (ETO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Eaton Vance Tax-Advantage Global Dividend Opp to open at $24.02, and during the day (based on 14 day Average True Range), to move between $23.63 and $24.23, which gives a possible trading interval of +/-$0.296 (+/-1.24%) up or down from last closing price. If Eaton Vance Tax-Advantage Global Dividend Opp takes out the full calculated possible swing range there will be an estimated 2.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $23.91 (0.08%) than the resistance at $24.47 (2.26%), 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-Advantage Global Dividend Opp stock A Buy?
Eaton Vance Tax-Advantage Global holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: -0.847 Hold/Accumulate Downgraded
Predicted Opening Price for Eaton Vance Tax-Advantage Global Dividend Opp of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$24.02 ( 0.390%) | $23.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ETO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 24.30 | 1.56 % | |
R2 | 24.20 | 1.11 % | ||
R1 | 24.13 | 0.84 % | ||
Current price: | 23.93 | |||
Support | S1 | 23.92 | -0.0569 % | |
S2 | 23.85 | -0.333 % | ||
S3 | 23.74 | -0.780 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 24.78 | 3.55 % | |
R2 | 24.71 | 3.26 % | ||
R1 | 24.47 | 2.26 % | ||
Current price | 23.93 | |||
Support | S1 | 23.91 | -0.0836% | |
S2 | 23.86 | -0.293% | ||
S3 | 23.79 | -0.585% |
ETO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 01, 2024 | Apr 22, 2024 | Apr 30, 2024 | $0.173 | 0.724% |
2 | Mar 01, 2024 | Mar 20, 2024 | Mar 28, 2024 | $0.137 | 0.550% |
3 | Feb 01, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.137 | 0.562% |
4 | Jan 02, 2024 | Jan 22, 2024 | Jan 31, 2024 | $0.137 | 0.576% |
5 | Dec 01, 2023 | Dec 21, 2023 | Dec 29, 2023 | $0.137 | 0.581% |
FAQ
Click here for our free guide on how to buy Eaton Vance Tax-Advantage Global Dividend Opp Stock.