Western Asset High Yield Defined Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Western Asset High Yield Defined stock price up 0.0866% on Monday
(Updated on Apr 29, 2024)
The Western Asset High Yield Defined stock price gained 0.0866% on the last trading day (Monday, 29th Apr 2024), rising from $11.55 to $11.56. During the last trading day the stock fluctuated 0.781% from a day low at $11.52 to a day high of $11.61. The price has risen in 6 of the last 10 days but is still down by -0.26% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 25 thousand more shares were traded than the day before. In total, 85 thousand shares were bought and sold for approximately $977.48 thousand.
The stock lies in the lower of a narrow and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $11.48 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.82% during the next 3 months and, with a 90% probability hold a price between $11.05 and $11.45 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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HYI Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 0.522%. Further rise is indicated until a new top pivot has been found. Western Asset High Yield Defined has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Western Asset High Yield Defined stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $11.61 and $11.85. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Western Asset High Yield Defined stock
Western Asset High Yield Defined finds support from accumulated volume at $11.55 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0900 between high and low, or 0.781%. For the last week the stock has had daily average volatility of 0.84%.
Our recommended stop-loss: $10.83 (-6.27%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (HYI) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Western Asset High Yield Defined Opportunity Fund Inc to open at $11.56, and during the day (based on 14 day Average True Range), to move between $11.46 and $11.66, which gives a possible trading interval of +/-$0.0999 (+/-0.86%) up or down from last closing price. If Western Asset High Yield Defined Opportunity Fund Inc takes out the full calculated possible swing range there will be an estimated 1.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $11.55 (0.09%) than the resistance at $12.00 (3.81%), 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 High Yield Defined Opportunity Fund Inc stock A Buy?
Western Asset High Yield Defined holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.724 Hold/Accumulate Unchanged
Predicted Opening Price for Western Asset High Yield Defined Opportunity Fund Inc of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $11.56 ( 0.0288%) | $11.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HYI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.65 | 0.81 % | |
| R2 | 11.62 | 0.510 % | ||
| R1 | 11.60 | 0.326 % | ||
| Current price: | 11.56 | |||
| Support | S1 | 11.53 | -0.269 % | |
| S2 | 11.51 | -0.452 % | ||
| S3 | 11.47 | -0.750 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.10 | 4.67 % | |
| R2 | 12.06 | 4.33 % | ||
| R1 | 12.00 | 3.81 % | ||
| Current price | 11.56 | |||
| Support | S1 | 11.55 | -0.0865% | |
| S2 | 11.50 | -0.519% | ||
| S3 | 0 | . |
HYI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | May 22, 2024 | Jun 03, 2024 | $0.0950 | 0.82% |
| 2 | Feb 20, 2024 | Apr 22, 2024 | May 01, 2024 | $0.0950 | 0.82% |
| 3 | Feb 20, 2024 | Mar 20, 2024 | Apr 01, 2024 | $0.0950 | 0.799% |
| 4 | Nov 16, 2023 | Feb 21, 2024 | Mar 01, 2024 | $0.0950 | 0.785% |
| 5 | Nov 14, 2023 | Jan 23, 2024 | Feb 01, 2024 | $0.0950 | 0.789% |
FAQ
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