Eaton Vance Municipal Income 2028 Term Stock Forecast
Eaton Vance Municipal Income 2028 Term stock price ended at $18.22 on Wednesday, after gaining 1.05%.
(Updated on Apr 24, 2024)
The Eaton Vance Municipal Income 2028 Term stock price gained 1.05% on the last trading day (Wednesday, 24th Apr 2024), rising from $18.03 to $18.22. During the last trading day the stock fluctuated 1.19% from a day low at $18.04 to a day high of $18.26. The price has risen in 6 of the last 10 days and is up by 2.88% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 606 more shares were traded than the day before. In total, 25 thousand shares were bought and sold for approximately $450.13 thousand.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Eaton Vance Municipal Income 2028 Term stock with a 90% probability to be traded between $17.87 and $18.67 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.
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ETX Signals & Forecast
Mostly positive signals in the chart today. The Eaton Vance Municipal Income 2028 Term stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $17.97 and $18.02. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 3.17%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Eaton Vance Municipal Income 2028 Term has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for Eaton Vance Municipal Income 2028 Term stock
Eaton Vance Municipal Income 2028 Term finds support from accumulated volume at $17.99 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 $0.215 between high and low, or 1.19%. For the last week the stock has had daily average volatility of 0.680%.
Our recommended stop-loss: $17.27 (-5.20%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (ETX) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Eaton Vance Municipal Income 2028 Term Trust to open at $18.17, and during the day (based on 14 day Average True Range), to move between $18.05 and $18.39, which gives a possible trading interval of +/-$0.168 (+/-0.92%) up or down from last closing price. If Eaton Vance Municipal Income 2028 Term Trust takes out the full calculated possible swing range there will be an estimated 1.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $18.32 (0.55%) than the support at $17.99 (1.26%), 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 Municipal Income 2028 Term Trust stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Eaton Vance Municipal Income 2028 Term stock to perform well in the short-term period.
Current score: 2.047 Buy Candidate Unchanged
Predicted Opening Price for Eaton Vance Municipal Income 2028 Term Trust of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $18.17 ( 0.265%) | $18.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ETX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.39 | 0.91 % | |
| R2 | 18.30 | 0.464 % | ||
| R1 | 18.25 | 0.185 % | ||
| Current price: | 18.22 | |||
| Support | S1 | 18.09 | -0.716 % | |
| S2 | 18.04 | -0.99 % | ||
| S3 | 17.96 | -1.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.42 | 1.10 % | |
| R2 | 18.35 | 0.714 % | ||
| R1 | 18.32 | 0.549 % | ||
| Current price | 18.22 | |||
| Support | S1 | 17.99 | -1.26% | |
| S2 | 17.81 | -2.25% | ||
| S3 | 17.73 | -2.69% |
ETX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 22, 2024 | Apr 30, 2024 | $0.0782 | 0.429% |
| 2 | Mar 01, 2024 | Mar 20, 2024 | Mar 28, 2024 | $0.0782 | 0.438% |
| 3 | Feb 01, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.0782 | 0.435% |
| 4 | Jan 02, 2024 | Jan 22, 2024 | Jan 31, 2024 | $0.0782 | 0.441% |
| 5 | Dec 01, 2023 | Dec 21, 2023 | Dec 29, 2023 | $0.0583 | 0.336% |
FAQ
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