ETY Eaton Vance Tax-Managed Diversified Equity Income Fund Forecast, Technical & Fundamental Analysis

Aroon Indicator for ETY shows an upward move is likely

ETY's Aroon Indicator triggered a bullish signal on December 05, 2023. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 305 similar instances where the Aroon Indicator showed a similar pattern. In of the 305 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at .

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on November 02, 2023. You may want to consider a long position or call options on ETY as a result. In of 77 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for ETY just turned positive on November 02, 2023. Looking at past instances where ETY's MACD turned positive, the stock continued to rise in of 55 cases over the following month. The odds of a continued upward trend are .

ETY moved above its 50-day moving average on November 14, 2023 date and that indicates a change from a downward trend to an upward trend.

The 10-day moving average for ETY crossed bullishly above the 50-day moving average on November 17, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 11 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ETY advanced for three days, in of 354 cases, the price rose further within the following month. The odds of a continued upward trend are .

Bearish Trend Analysis

The 10-day RSI Indicator for ETY moved out of overbought territory on December 04, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 41 similar instances where the indicator moved out of overbought territory. In of the 41 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 67 cases where ETY's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .

The 50-day moving average for ETY moved below the 200-day moving average on November 13, 2023. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where ETY declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

Fundamental Analysis (Ratings)