Western Asset Investment Grade Defined Stock Forecast
Western Asset Investment Grade Defined stock price down 0.241% on Thursday
(Updated on Apr 25, 2024)
The Western Asset Investment Grade Defined stock price fell by -0.241% on the last day (Thursday, 25th Apr 2024) from $16.60 to $16.56. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 0.796% from a day low at $16.55 to a day high of $16.68. The price has fallen in 6 of the last 10 days and is down by -1.19% 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 -3 thousand shares and in total, 18 thousand shares were bought and sold for approximately $303.91 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 $16.50 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -2.70% during the next 3 months and, with a 90% probability hold a price between $16.05 and $16.68 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
IGI Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has fallen 0%. 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 Investment Grade 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 $16.68 and $17.00. 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). 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 Investment Grade Defined stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have very controlled movements and therefore the general risk is considered very 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 $0.132 between high and low, or 0.796%. For the last week the stock has had daily average volatility of 1.01%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IGI) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Western Asset Investment Grade Defined Opportunity Trust Inc to open at $16.60, and during the day (based on 14 day Average True Range), to move between $16.39 and $16.73, which gives a possible trading interval of +/-$0.166 (+/-1.00%) up or down from last closing price. If Western Asset Investment Grade Defined Opportunity Trust Inc takes out the full calculated possible swing range there will be an estimated 2.00% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $16.92, some $0.360 (2.17%) from the current price of $16.56, our system finds the risk reward not very attractive.
Is Western Asset Investment Grade Defined Opportunity Trust Inc stock A Buy?
Western Asset Investment Grade Defined holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.182 Sell Candidate Unchanged
Predicted Opening Price for Western Asset Investment Grade Defined Opportunity Trust Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $16.60 ( 0.218%) | $16.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IGI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.73 | 1.01 % | |
| R2 | 16.68 | 0.710 % | ||
| R1 | 16.65 | 0.522 % | ||
| Current price: | 16.56 | |||
| Support | S1 | 16.55 | -0.0862 % | |
| S2 | 16.51 | -0.274 % | ||
| S3 | 16.46 | -0.578 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.29 | 4.41 % | |
| R2 | 17.26 | 4.23 % | ||
| R1 | 16.92 | 2.17 % | ||
| Current price | 16.56 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
IGI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | May 22, 2024 | Jun 03, 2024 | $0.0700 | 0.423% |
| 2 | Feb 20, 2024 | Apr 22, 2024 | May 01, 2024 | $0.0700 | 0.423% |
| 3 | Feb 20, 2024 | Mar 20, 2024 | Apr 01, 2024 | $0.0700 | 0.408% |
| 4 | Nov 16, 2023 | Feb 21, 2024 | Mar 01, 2024 | $0.0695 | 0.405% |
| 5 | Nov 14, 2023 | Jan 23, 2024 | Feb 01, 2024 | $0.0695 | 0.400% |
FAQ
Click here for our free guide on how to buy Western Asset Investment Grade Defined Opportunity Trust Inc Stock.
