Eaton Vance Tax Advantaged Dividend Stock Forecast
Evaluation of Eaton Vance Tax Advantaged Dividend stock downgraded after the last trading session.
(Updated on Apr 24, 2024)
The Eaton Vance Tax Advantaged Dividend stock price gained 0.0442% on the last trading day (Wednesday, 24th Apr 2024), rising from $22.64 to $22.65. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.84% from a day low at $22.65 to a day high of $22.84. The price has been going up and down for this period, and there has been a -2.96% loss for the last 2 weeks. Volume fell on the last day by -31 thousand shares and in total, 109 thousand shares were bought and sold for approximately $2.48 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $22.37 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 4.22% during the next 3 months and, with a 90% probability hold a price between $23.31 and $24.86 at the end of this 3-month period.
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EVT Signals & Forecast
There are mixed signals in the stock today. The Eaton Vance Tax Advantaged Dividend 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 $22.98. On a fall, the stock will find some support from the short-term average at $22.47. 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). A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.48%. Further rise is indicated 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 it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Eaton Vance Tax Advantaged Dividend stock
Eaton Vance Tax Advantaged Dividend finds support from accumulated volume at $22.57 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.191 (0.84%) between high and low. For the last week, the stock has had daily average volatility of 1.09%.
Our recommended stop-loss: $21.46 (-5.24%) (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 (EVT) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Eaton Vance Tax Advantaged Dividend Income Fund to open at $22.71, and during the day (based on 14 day Average True Range), to move between $22.35 and $22.95, which gives a possible trading interval of +/-$0.297 (+/-1.31%) up or down from last closing price. If Eaton Vance Tax Advantaged Dividend Income Fund takes out the full calculated possible swing range there will be an estimated 2.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $22.57 (0.35%) than the resistance at $23.12 (2.08%), 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 Advantaged Dividend Income Fund stock A Buy?
Eaton Vance Tax Advantaged Dividend 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: 0.934 Hold/Accumulate Downgraded
Predicted Opening Price for Eaton Vance Tax Advantaged Dividend Income Fund of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$22.71 ( 0.280%) | $22.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EVT
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.90 | 1.12 % | |
R2 | 22.83 | 0.80 % | ||
R1 | 22.79 | 0.602 % | ||
Current price: | 22.65 | |||
Support | S1 | 22.64 | -0.0409 % | |
S2 | 22.60 | -0.239 % | ||
S3 | 22.52 | -0.561 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.68 | 4.55 % | |
R2 | 23.52 | 3.84 % | ||
R1 | 23.12 | 2.08 % | ||
Current price | 22.65 | |||
Support | S1 | 22.57 | -0.353% | |
S2 | 22.38 | -1.19% | ||
S3 | 22.10 | -2.43% |
EVT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 01, 2024 | Apr 22, 2024 | Apr 30, 2024 | $0.165 | 0.726% |
2 | Mar 01, 2024 | Mar 20, 2024 | Mar 28, 2024 | $0.149 | 0.631% |
3 | Feb 01, 2024 | Feb 21, 2024 | Feb 29, 2024 | $0.149 | 0.657% |
4 | Jan 02, 2024 | Jan 22, 2024 | Jan 31, 2024 | $0.149 | 0.676% |
5 | Dec 01, 2023 | Dec 21, 2023 | Dec 29, 2023 | $0.149 | 0.669% |
FAQ
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