Thu 21'st Sep 2017
Eaton Vance Tax-Managed Diversified Equity Income Fund Stock Analysis
Technical stock analysis for Thu 21'st Sep 2017
Sell candidate since 2017-09-20 Loss -1.55%
Given the current horizontal trend you can expect Eaton Vance Tax-Managed Diversified Equity Income Fund with 90% probability to be traded between $10.71 and $11.40 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.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Wednesday September 20, 2017, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Eaton Vance Tax-Managed Diversified Equity Income Fund holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $11.49. On a fall, the stock will find some support from the long-term average at approximately $11.32. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal.
Relative Strength Index (RSI)
RSI14 is 58 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 $11.35. On the upside the stock meets some resistance just above today's level from accumulated volume at $11.47, $11.49 and $11.57.
The stock is about to test the resistance from accumulated volume at $11.47 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
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 $0.12 (1.05%) between high and low. For the last week, the stock has had a daily average volatility of 0.77%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
Eaton Vance Tax-Managed Diversified Equity Income Fund holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Sell Candidate.
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