Western Asset Global High Income Fund Stock Forecast
Red day on Wednesday for Western Asset Global High Income Fund
(Updated on Apr 24, 2024)
The Western Asset Global High Income Fund stock price fell by -1.37% on the last day (Wednesday, 24th Apr 2024) from $6.92 to $6.83. During the last trading day the stock fluctuated 1.32% from a day low at $6.82 to a day high of $6.91. The price has fallen in 6 of the last 10 days and is down by -2.78% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -180 shares and in total, 49 thousand shares were bought and sold for approximately $335.73 thousand.
The stock lies in the middle of a narrow and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.58% during the next 3 months and, with a 90% probability hold a price between $6.41 and $6.70 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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EHI Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.26%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Western Asset Global High Income Fund stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $7.01. On a fall, the stock will find some support from the short-term average at $6.80. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Western Asset Global High Income Fund stock
Western Asset Global High Income Fund finds support from accumulated volume at $6.80 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0900 between high and low, or 1.32%. For the last week the stock has had daily average volatility of 1.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EHI) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Western Asset Global High Income Fund Inc to open at $6.85, and during the day (based on 14 day Average True Range), to move between $6.75 and $6.90, which gives a possible trading interval of +/-$0.0754 (+/-1.10%) up or down from last closing price. If Western Asset Global High Income Fund Inc takes out the full calculated possible swing range there will be an estimated 2.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.80 (0.37%) than the resistance at $7.05 (3.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Western Asset Global High Income Fund Inc stock A Buy?
Western Asset Global High Income Fund holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.092 Sell Candidate Unchanged
Predicted Opening Price for Western Asset Global High Income Fund Inc of Thursday, April 25, 2024
Fair opening price April 25, 2024 | Current price |
---|---|
$6.85 ( 0.391%) | $6.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EHI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.94 | 1.71 % | |
R2 | 6.91 | 1.21 % | ||
R1 | 6.89 | 0.89 % | ||
Current price: | 6.83 | |||
Support | S1 | 6.82 | -0.113 % | |
S2 | 6.80 | -0.424 % | ||
S3 | 6.76 | -0.93 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.10 | 4.03 % | |
R2 | 7.09 | 3.88 % | ||
R1 | 7.05 | 3.30 % | ||
Current price | 6.83 | |||
Support | S1 | 6.80 | -0.366% | |
S2 | 6.75 | -1.10% | ||
S3 | 6.74 | -1.25% |
EHI Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 22, 2024 | May 22, 2024 | Jun 03, 2024 | $0.0700 | 1.02% |
2 | Feb 20, 2024 | Apr 22, 2024 | May 01, 2024 | $0.0700 | 1.02% |
3 | Feb 20, 2024 | Mar 20, 2024 | Apr 01, 2024 | $0.0700 | 0.99% |
4 | Nov 16, 2023 | Feb 21, 2024 | Mar 01, 2024 | $0.0670 | 0.94% |
5 | Nov 14, 2023 | Jan 23, 2024 | Feb 01, 2024 | $0.0670 | 0.92% |
FAQ
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