Western Asset Investment Grade Defined Stock Forecast
Western Asset Investment Grade Defined stock price up 0.208% on Friday
(Updated on May 03, 2024)
The Western Asset Investment Grade Defined stock price gained 0.208% on the last trading day (Friday, 3rd May 2024), rising from $16.84 to $16.88. During the last trading day the stock fluctuated 0.96% from a day low at $16.78 to a day high of $16.94. The price has been going up and down for this period, and there has been a 1.11% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 thousand more shares were traded than the day before. In total, 17 thousand shares were bought and sold for approximately $278.71 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 -2.62% during the next 3 months and, with a 90% probability hold a price between $16.03 and $16.63 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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IGI Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 1.90%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Western Asset Investment Grade 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 Investment Grade Defined 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 $16.91. On a fall, the stock will find some support from the short-term average at $16.73. 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.
Support, Risk & Stop-loss for Western Asset Investment Grade Defined stock
Western Asset Investment Grade Defined finds support from accumulated volume at $16.78 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 $0.162 between high and low, or 0.96%. For the last week the stock has had daily average volatility of 0.98%.
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 Monday 6th
For the upcoming trading day on Monday, 6th we expect Western Asset Investment Grade Defined Opportunity Trust Inc to open at $16.87, and during the day (based on 14 day Average True Range), to move between $16.71 and $17.04, which gives a possible trading interval of +/-$0.166 (+/-0.98%) 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 1.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.92 (0.27%) than the support at $16.78 (0.56%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Western Asset Investment Grade Defined Opportunity Trust Inc stock A Buy?
Western Asset Investment Grade Defined 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: -1.413 Sell Candidate Unchanged
Predicted Opening Price for Western Asset Investment Grade Defined Opportunity Trust Inc of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$16.87 ( 0.0557%) | $16.88 |
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 | 17.03 | 0.90 % | |
R2 | 16.97 | 0.537 % | ||
R1 | 16.93 | 0.311 % | ||
Current price: | 16.88 | |||
Support | S1 | 16.80 | -0.422 % | |
S2 | 16.77 | -0.648 % | ||
S3 | 16.70 | -1.01 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 17.29 | 2.46 % | |
R2 | 17.26 | 2.28 % | ||
R1 | 16.92 | 0.267 % | ||
Current price | 16.88 | |||
Support | S1 | 16.78 | -0.563% | |
S2 | 16.60 | -1.63% | ||
S3 | 16.56 | -1.87% |
IGI Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 22, 2024 | May 22, 2024 | Jun 03, 2024 | $0.0700 | 0.415% |
2 | Feb 20, 2024 | Apr 22, 2024 | May 01, 2024 | $0.0700 | 0.414% |
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
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