Eaton Vance @ Year Highs

Published on Friday, 14 September 2012 12:34 Written by TradersHuddle Wire

New York, September 14th (TradersHuddle.com) - Shares of Eaton Vance Corp. (NYSE:EV) booked a new 52 week high today by trading above $29.64, traders are definitely monitoring Eaton Vance's price action to see if this move attracts further buying into the stock.

Eaton Vance Corp. (NYSE:EV) is a comprehensive wealth manager engaged in managing investment funds and providing investment management and counseling services to high-net-worth individuals and institutions. The Company focuses to develop and sustain management expertise across a range of investment disciplines and to offer investment products and services through multiple distribution channels. Its product line offers fund shareholders, retail managed account investors, institutional investors and high-net-worth clients a range of products and services designed and managed to generate attractive long term risk-adjusted returns.

Eaton Vance is currently trading 0.56% versus its previous trading session close, and it has calculated support and resistance at $25.96 and $27.48 respectively. Clearly, with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range.

The overall market index S&P 500 is trading higher by 0.68% from its previous trading close, which means that Eaton Vance stock is underperforming the overall market.