Help us make better tools for you!. Read more (Published: 2017-01-12)

ETY - Eaton Vance Tax-Managed Diversified Equity Income Fund Fri 13'th Jan 2017

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Buy Candidate

Score: 4.61

#731 of 5193
Trend:
MV Long:
MV Short:
Pivot:
Volume:
MACD:
Accuracy: 82.14%
Risk: Low
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Stock analysis for Fri 13'th Jan 2017 (Updated daily)

Buy candidate since 2017-01-13

Eaton Vance Tax-Managed Diversified Equity Income Fund Stock Analysis


Eaton Vance Tax-Managed Diversified Equity Income Fund gained 0.57% in the last trading day rising from, USD 10.45 to USD 10.51. The price has fallen in 5 of the last 10 days , but is still up by 1.55% over the past 2 weeks. Volume fell in the last day by -166 628 shares and ,in total, 199 354 shares bought and sold for approximately USD 2.10 million. You should note that falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.

Trend

Given the current horizontal trend you can expect Eaton Vance Tax-Managed Diversified Equity Income Fund with 90% probability to be traded between USD 10.11 and USD 10.83 at the end of this period with 90% probability. 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 roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.

Signals

Only positive signals in the chart today. Eaton Vance Tax-Managed Diversified Equity Income Fund holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at USD 10.47 and USD 10.37. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday January 03, 2017, which indicates further gains 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 may be an early warning. The stock should be watched closely.

The stock had a Golden Star Signal* on Friday December 30, 2016 for the short-term and also have Golden Star Signal for the mediumterm dated Tuesday May 17, 2016.

* Golden Star Signal* is when the short-term moving average, the long-term moving average, and priceline meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Relative Strength Index (RSI)

RSI14 is 60 and the stock is currently not being overbought or oversold

Support & Resistance

Eaton Vance Tax-Managed Diversified Equity Income Fund finds support from accumulated volume at USD 10.48, USD 10.38, and USD 10.33. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 10.52, USD 10.59 and USD 10.60.

The stock is about to test the resistance from accumulated volume at USD 10.52 and this may cause the stock to take a minor break or get into a more sideways move for a few days.

Risk

This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day the stock moved USD 0.05 between high and low, and this equals 0.48%. For the last week, the stock has had a daily average volatility of 0.75%.

Our recommended stoploss: USD 10.28 (-2.19%) ( based on support and risk)

Evaluation

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 this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.

Buy Candidate


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