In the case of Eaton Vance Intermediate Municipal Income, the RSI reading has hit 29.2 — by comparison, the RSI reading for the S&P 500 is currently 49.0. A bullish investor could look at EVIM's 29.2 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), EVIM's low point in its 52 week range is $51.02 per share, with $54.2053 as the 52 week high point — that compares with a last trade of $52.65. Eaton Vance Intermediate Municipal Income shares are currently trading off about 0.2% on the day.
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Further EVIM Research:
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