Eaton Vance Tax Advantaged Dividend Stock Forecast
Eaton Vance Tax Advantaged Dividend stock upgraded to Buy Candidate.
(Updated on Apr 22, 2024)
The Eaton Vance Tax Advantaged Dividend stock price gained 0.448% on the last trading day (Monday, 22nd Apr 2024), rising from $22.32 to $22.42. During the last trading day the stock fluctuated 1.08% from a day low at $22.30 to a day high of $22.54. The price has fallen in 6 of the last 10 days and is down by -4.68% for this period. Volume fell on the last day by -17 thousand shares and in total, 111 thousand shares were bought and sold for approximately $2.49 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 $22.34 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 4.80% during the next 3 months and, with a 90% probability hold a price between $23.41 and $24.98 at the end of this 3-month period.
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EVT Signals & Forecast
The Eaton Vance Tax Advantaged Dividend 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 $22.46 and $22.99. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.448%. 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 $22.38 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 $0.240 (1.08%) between high and low. For the last week, the stock has had daily average volatility of 1.07%.
Our recommended stop-loss: $21.13 (-5.75%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (EVT) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Eaton Vance Tax Advantaged Dividend Income Fund to open at $22.42, and during the day (based on 14 day Average True Range), to move between $22.12 and $22.72, which gives a possible trading interval of +/-$0.304 (+/-1.36%) 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 2.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $22.38 (0.18%) than the resistance at $22.57 (0.67%), 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?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.123 Buy Candidate Upgraded
Predicted Opening Price for Eaton Vance Tax Advantaged Dividend Income Fund of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $22.42 ( 0.0001%) | $22.42 |
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 | 22.66 | 1.07 % | |
| R2 | 22.57 | 0.661 % | ||
| R1 | 22.51 | 0.409 % | ||
| Current price: | 22.42 | |||
| Support | S1 | 22.33 | -0.409 % | |
| S2 | 22.27 | -0.661 % | ||
| S3 | 22.18 | -1.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.52 | 4.91 % | |
| R2 | 23.12 | 3.12 % | ||
| R1 | 22.57 | 0.669 % | ||
| Current price | 22.42 | |||
| Support | S1 | 22.38 | -0.178% | |
| S2 | 22.10 | -1.43% | ||
| S3 | 22.02 | -1.78% |
EVT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 22, 2024 | Apr 30, 2024 | $0.165 | 0.735% |
| 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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