Eaton Vance New York Muni Income Trust (EVY) Stock Technical Analysis
NYSEARCA:EVY - NYSE Arca -
Taking everything into account, EVY scores 6 out of 10 in our technical rating. Although EVY is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
EVY has only a medium technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 15.16, a Stop Loss order could be placed below this zone.
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13.59
3 important support areas can be observed.
- A support zone ranging from 14.72 to 15.16. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @14.09 from a horizontal line in the daily time frame.
- A support zone ranging from 13.73 to 13.73. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 15.21 to 15.29. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for EVY is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for EVY is neutral. |
| ChartMill Relative Strength | 41.79 | NEUTRAL | EVY is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of EVY is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of EVY is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of EVY is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 48.35 | NEUTRAL | The RSI value for EVY is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests EVY has a negative trend. |
| Stochastics (14,3) | 4.76 | OVERSOLD | The low Stochastics value suggests EVY may be oversold. |
| Average True Range in percent/ATR (20) | 0.36 | LOW VOLATILITY | The low ATR as a percentage value for EVY suggests low volalility. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 15.22 | 15.15 | 0.07 (0.44%) | 25.00% |
| An entry @15.22. This is a Buy Stop order right above the 10 day moving average. | An exit @15.15. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.07 points, which is 0.44%. | For a 0.11% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of EVY. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
Eaton Vance New York Muni Income Trust
NYSEARCA:EVY (8/20/2021, 8:04:00 PM)
15.17
+0.01 (+0.07%)