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ETY - Eaton Vance Tax-Managed Diversified Equity Income Fund Mon 27'th Feb 2017

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Strong Buy Candidate

Score: 5.91

#360 of 5165
Trend:
MV Long:
MV Short:
Pivot:
Volume:
MACD:
Score:
Accuracy: 83.87%
Risk: Low
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Stock analysis for Mon 27'th Feb 2017 (Updated daily)

Buy candidate since 2017-02-24

Gain 1.00%

Eaton Vance Tax-Managed Diversified Equity Income Fund Stock Analysis


Eaton Vance Tax-Managed Diversified Equity Income Fund gained 1.00% in the last trading day, rising from USD 10.95 to USD 11.06. , and 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. The price has risen in 7 of the last 10 days days and is up by 1.19% over the past 2 weeks. Volume also increased in the last day along with the price, which is a positive technical sign, and, in total, 269 979 more shares were traded than the day before. In total, 576 956 shares bought and sold for approximately USD 6.38 million.

Trend

Eaton Vance Tax-Managed Diversified Equity Income Fund lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.5% during the next 3 months and, with 90% probability hold a price between USD 11.57 and USD 12.01 at the end of this period.

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 10.92 and USD 10.72. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday January 20, 2017, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.

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 65 and the stock is currently not being overbought or oversold

Support & Resistance

On the downside, the stock finds support just below today's level from accumulated volume at 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 11.09.

There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Eaton Vance Tax-Managed Diversified Equity Income Fund finds support just below today's level at 10.38. If this is broken, then the next support from accumulated volume will be at 10.33 and 10.30. The stock is about to test the resistance at USD 11.09. If this level is broken the stock may move faster and we often see a peak at the end of such a break, posing a good sales opportunity as in 90% of the cases you will get a reaction back to the level broken before new gains. A break should be followed by increasing volume else the break may be false and despite a break of the actual resistance level the stock falls back fairly soon.

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 0.12 (1.10%) between high and low. For the last week, the stock has had a daily average volatility of 1.01%.

Our recommended stoploss: USD 10.52 (-4.88%) ( criteria: risk and closeness to support from trendline.)

Evaluation

Eaton Vance Tax-Managed Diversified Equity Income Fund holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at current levels and are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Strong Buy Candidate.

Strong Buy Candidate


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