• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Eaton Vance Corp (NYSE:EV)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Eaton Vance Corp (NYSE:EV) based on the price action in the company's shares. Yesterday's price range of $38.20 and $38.69 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Eaton Vance Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Eaton Vance Corp. creates, markets, and manages mutual funds. The Company also provides management and counseling services to individual and institutional clients. Eaton Vance currently provides investment advisory or administration services to individual and institutional accounts, as well as funds.

In the past 52 weeks, shares of Eaton Vance Corp have traded between a low of $32.28 and a high of $60.95 and closed yesterday at $38.53, which is 19% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 0.9%.

There is potential upside of 57.2% for shares of Eaton Vance Corp based on a current price of $38.53 and an average consensus analyst price target of $60.56. Eaton Vance Corp shares should encounter resistance at the 200-day moving average (MA) of $48.56 and support at the 50-day MA of $37.66.

SmarTrend recommended that subscribers consider buying shares of Eaton Vance Corp on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.78. Since that recommendation, shares of Eaton Vance Corp have risen 6.6%. We continue to monitor EV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle eaton vance corp

Ticker(s): EV