The ETF is down on the day, since yesterday the market segment is down -1.32%. ELCV is near a weak support line. We'll see if it bounces off or heads lower. If we also take into account the strong positive momentum that Eventide High Dividend has shown over the last year. A lot of buyers typically come in on dips to bid the price up. It certainly increases the
likelihood of getting a nice bounce off of this particular resistance line. Looking back at the previous year, the ETF has returned 20.94 percent back to its shareholders, not too bad!
If we get a reversal off of support and Eventide High Dividend starts moving up, it can probably get to $33.09 at which point it'll need to break through that resistance level in order to keep moving higher. If it fails to bounce off this level and breaks down lower, it will most likely find the nearest support a the $29.17
at which point, it may have a chance of recovering from there.
