Western Asset Diversified Income Fund Fund Forecast

Green day on Tuesday for Western Asset Diversified Income Fund
(Updated on Jul 02, 2024)

WDI Signals & Forecast

The Western Asset Diversified Income Fund fund holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the fund 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 $14.47 and $14.53. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 2.52%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The fund had a Golden Star Signal on Friday, April 05, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the fund in question.

Support, Risk & Stop-loss for Western Asset Diversified Income Fund fund

Western Asset Diversified Income Fund finds support from accumulated volume at $14.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the fund tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the fund moved $0.120 between high and low, or 0.83%. For the last week the fund has had daily average volatility of 0.793%.

Our recommended stop-loss: $13.81 (-5.60%) (This fund has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)

Trading Expectations (WDI) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Western Asset Diversified Income Fund to open at $14.59, and during the day (based on 14 day Average True Range), to move between $14.48 and $14.78, which gives a possible trading interval of +/-$0.147 (+/-1.01%) up or down from last closing price. If Western Asset Diversified Income Fund takes out the full calculated possible swing range there will be an estimated 2.02% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $14.64 (0.07%) than the support at $14.58 (0.34%), 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 Diversified Income Fund fund A Buy?

Western Asset Diversified Income 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.

Current score: -0.858 Hold/Accumulate Unchanged

Predicted Opening Price for Western Asset Diversified Income Fund of Wednesday, July 3, 2024

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