Western Asset Managed Municipals Fund Stock Forecast
Evaluation of Western Asset Managed Municipals Fund stock downgraded after the last trading session.
(Updated on May 06, 2024)
No changes to the price of Western Asset Managed Municipals Fund stock on the last trading day (Monday, 6th May 2024). During the last trading day the stock fluctuated 0.595% from a day low at $10.08 to a day high of $10.14. The price has risen in 5 of the last 10 days and is up by 2.02% over the past 2 weeks.
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 -2.57% during the next 3 months and, with a 90% probability hold a price between $9.63 and $10.07 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
MMU Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 2.12%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Western Asset Managed Municipals 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 $10.13. On a fall, the stock will find some support from the short-term average at $9.99. 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. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for Western Asset Managed Municipals Fund stock
Western Asset Managed Municipals Fund finds support from accumulated volume at $10.05 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 $0.0600 between high and low, or 0.595%. For the last week the stock has had daily average volatility of 0.82%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MMU) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Western Asset Managed Municipals Fund Inc to open at $10.11, and during the day (based on 14 day Average True Range), to move between $10.03 and $10.21, which gives a possible trading interval of +/-$0.0936 (+/-0.92%) up or down from last closing price. If Western Asset Managed Municipals Fund Inc takes out the full calculated possible swing range there will be an estimated 1.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.15 (0.30%) than the support at $10.05 (0.69%), 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 Managed Municipals Fund Inc stock A Buy?
Western Asset Managed Municipals 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.858 Sell Candidate Downgraded
Predicted Opening Price for Western Asset Managed Municipals Fund Inc of Tuesday, May 7, 2024
Fair opening price May 7, 2024 | Current price |
---|---|
$10.11 ( 0.0659%) | $10.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MMU
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.17 | 0.527 % | |
R2 | 10.15 | 0.301 % | ||
R1 | 10.14 | 0.161 % | ||
Current price: | 10.12 | |||
Support | S1 | 10.09 | -0.292 % | |
S2 | 10.08 | -0.432 % | ||
S3 | 10.05 | -0.659 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.28 | 1.58 % | |
R2 | 10.18 | 0.593 % | ||
R1 | 10.15 | 0.296 % | ||
Current price | 10.12 | |||
Support | S1 | 10.05 | -0.692% | |
S2 | 9.98 | -1.38% | ||
S3 | 9.91 | -2.08% |
MMU Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 22, 2024 | May 22, 2024 | Jun 03, 2024 | $0.0545 | 0.539% |
2 | Feb 20, 2024 | Apr 22, 2024 | May 01, 2024 | $0.0545 | 0.547% |
3 | Feb 20, 2024 | Mar 20, 2024 | Apr 01, 2024 | $0.0545 | 0.528% |
4 | Nov 16, 2023 | Feb 21, 2024 | Mar 01, 2024 | $0.0415 | 0.408% |
5 | Nov 14, 2023 | Jan 23, 2024 | Feb 01, 2024 | $0.0415 | 0.406% |
FAQ
Click here for our free guide on how to buy Western Asset Managed Municipals Fund Inc Stock.