ETY - Eaton Vance Tax-Managed Diversified Equity Income Fund

Industry: Closed-End Fund - Equity Sector: Financial

ETY - Eaton Vance Tax-Managed Diversified Equity Income Fund

Industry: Closed-End Fund - Equity Sector: Financial
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Buy Candidate
Tue 23'rd May 2017

PERIOD COVERED
2017-02-24 - 2017-05-23
CHANGE
0.35%
PRICE
$11.32
VOLUME
Sell
TREND
Buy
MV LONG
Buy
MV SHORT
Buy
PIVOT
Buy
MACD
Sell
Request Prediction
0.00%
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Eaton Vance Tax-Managed Diversified Equity Income Fund Stock Analysis

Technical stock analysis for Tue 23'rd May 2017

Buy candidate since 2017-05-23

Eaton Vance Tax-Managed Diversified Equity Income Fund gained 0.35% in the last trading day, rising from USD 11.28 to USD 11.32 The price has risen in 6 of the last 10 days and is up by 0.27% over the past 2 weeks. Volume fell in the last day by -62 739 shares, and in total, 345 848 shares bought and sold for approximately USD 3.91 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.

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 3.2% during the next 3 months and, with 90% probability hold a price between USD 11.52 and USD 11.82 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 11.31 and USD 11.22. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday May 17, 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.

Relative Strength Index (RSI)

RSI14 is 54 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 11.10, USD 11.09, and USD 11.07. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 11.38, USD 11.37 and USD 11.40.

The stock is about to test the resistance from accumulated volume at USD 11.38 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 0.07 (0.62%) between high and low. For the last week, the stock has had a daily average volatility of 1.43%.

Our recommended stoploss: USD 10.74 (-5.11%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 4 days ago.)

Evaluation

Several short-term signals, along with a general good trend, 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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