Western Asset Managed Municipals Fund Stock Forecast

Stronger technical forecast for Western Asset Managed Municipals Fund stock price after Tuesday trading.
(Updated on May 07, 2024)

MMU Signals & Forecast

The Western Asset Managed Municipals Fund stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $10.03 and $10.13. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 3.03%. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.

Support, Risk & Stop-loss for Western Asset Managed Municipals Fund stock

Western Asset Managed Municipals Fund finds support from accumulated volume at $10.18 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 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 $0.0583 between high and low, or 0.574%. For the last week the stock has had daily average volatility of 0.89%

Our recommended stop-loss: $9.75 (-4.47%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (MMU) For The Upcoming Trading Day Of Wednesday 8th

For the upcoming trading day on Wednesday, 8th we expect Western Asset Managed Municipals Fund Inc to open at $10.20, and during the day (based on 14 day Average True Range), to move between $10.12 and $10.30, which gives a possible trading interval of +/-$0.0941 (+/-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 1.84% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $10.18 (0.29%) than the resistance at $10.25 (0.39%), 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 Managed Municipals Fund Inc stock A Buy?

Western Asset Managed Municipals Fund holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.876 Hold/Accumulate Upgraded

Predicted Opening Price for Western Asset Managed Municipals Fund Inc of Wednesday, May 8, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.