Eaton Vance Corp., through its subsidiaries, engages in the creation,
marketing, and management of investment funds in the United States. It
also provides investment management and counseling services to
institutions and individuals. Further, the company operates as an
adviser and distributor of investment companies and separate accounts.
As of October 31, 2004, the company provided investment advisory or
administration services to approximately 150 funds; approximately 1,300
separately managed individual and institutional accounts; and
participated in approximately 40 retail-managed account broker/dealer
programs. It markets and distributes shares of funds through a retail
network of national and regional broker/dealers, banks, insurance
companies, and financial planning firms.
Take a look at the 1-year chart of Eaton (NYSE: EV) with my added notations:
After its steep January drop, EV has been range bound since February.
Over that period of time the stock has formed a clear resistance at
$38.50 (red). In addition, the stock has also created a common level of
support at $35 (green). At some point the stock will have to break one
of the two levels the consolidation has created.
The Tale of the Tape: EV has clear levels of support
($35) and resistance ($38.50). The possible long positions on the stock
would be either on a pullback to $35, or on a breakout above $38.50.
The ideal short opportunity would be on a break below $35.
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