CEV Eaton Vance California Municipal Income Trust Forecast, Technical & Fundamental Analysis
CEV sees its 50-day moving average cross bearishly below its 200-day moving average
The 50-day moving average for CEV moved below the 200-day moving average on September 08, 2023. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on August 24, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on CEV as a result. In of 82 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for CEV turned negative on September 22, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 52 similar instances when the indicator turned negative. In of the 52 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where CEV declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for CEV entered a downward trend on September 26, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The RSI Indicator demonstrates that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 14 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where CEV advanced for three days, in of 279 cases, the price rose further within the following month. The odds of a continued upward trend are .
CEV may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Fundamental Analysis (Ratings)
Industry description
General Information
Category Unknown
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| Fidelity Advisor Asset Manager® 20% I | |||
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| Fidelity Advisor® Stk Selec Lg Cp Val A | |||
| ICISX | 14.87 | -0.21 | -1.39% |
| VY® Columbia Small Cap Value II I | |||
CEV and
Correlation & Price change
A.I.dvisor indicates that over the last year, CEV has been loosely correlated with CMF. These tickers have moved in lockstep 58% of the time. This A.I.-generated data suggests there is some statistical probability that if CEV jumps, then CMF could also see price increases.