In the case of Eaton Vance Short Duration Municipal Income, the RSI reading has hit 29.0 — by comparison, the RSI reading for the S&P 500 is currently 44.8. A bullish investor could look at EVSM's 29.0 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.
Looking at a chart of one year performance (below), EVSM's low point in its 52 week range is $50 per share, with $50.88 as the 52 week high point — that compares with a last trade of $50.02. Eaton Vance Short Duration Municipal Income shares are currently trading off about 0.1% on the day.
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Further EVSM Research:
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