Market Focus: Tracking Shares of Eaton Vance California Muni Bond Fund (EVM)

Watching the signals on shares of Eaton Vance California Muni Bond Fund (EVM), we note that the PPO is currently below the signal line. Technical traders might be watching for the stock to display signs of a bearish move.

At the time of writing, the 14-day Commodity Channel Index (CCI) is 19.75. Developed by Donald Lambert, the CCI is a versatile tool that may be used to help spot an emerging trend or provide warning of extreme conditions. CCI generally measures the current price relative to the average price level over a specific time period. CCI is relatively high when prices are much higher than average, and relatively low when prices are much lower than the average.

For further review, we can take a look at another popular technical indicator. In terms of moving averages, the 200-day is currently at 11.69, the 50-day is 12.10, and the 7-day is resting at 12.14. Moving averages are a popular trading tool among investors. Moving averages can be used to help filter out the day to day noise created by other factors. MA’s may be used to identify uptrends or downtrends, and they can be a prominent indicator for detecting a shift in momentum for a particular stock. Many traders will use moving averages for different periods of time in conjunction with other indicators to help gauge future stock price action.

Taking a quick look at technical levels and trend lines, we see that the stock has a 14-day ADX of 40.89. For traders looking to capitalize on trends, the ADX may be an essential technical tool. In general, and ADX value from 0-25 would represent an absent or weak trend. A value of 25-50 would indicate a strong trend. A value of 50-75 would indicate a very strong trend, and a value of 75-100 would signify an extremely strong trend.

The RSI, or Relative Strength Index, is a widely used technical momentum indicator that compares price movement over time. The RSI was created by J. Welles Wilder who was striving to measure whether or not a stock was overbought or oversold. The RSI may be useful for spotting abnormal price activity and volatility. The RSI oscillates on a scale from 0 to 100. The normal reading of a stock will fall in the range of 30 to 70. A reading over 70 would indicate that the stock is overbought, and possibly overvalued. A reading under 30 may indicate that the stock is oversold, and possibly undervalued. After a recent check, the 14-day RSI is currently at 52.03, the 7-day stands at 53.46, and the 3-day is sitting at 62.51.

Eaton Vance California Muni Bond Fund (EVM)’s Williams Percent Range or 14 day Williams %R is currently sitting at -60.87. In general, if the reading goes above -20, the stock may be considered to be overbought. Alternately, if the indicator goes under -80, this may show the stock as being oversold.

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