Western Asset Diversified Income Fund Fund Forecast

Evaluation of Western Asset Diversified Income Fund fund downgraded after the last trading session.
(Updated on Apr 26, 2024)

WDI Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 2.17%. 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. The Western Asset Diversified Income Fund fund 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 fund giving a more negative forecast for the stock. On further gains, the fund will meet resistance from the long-term Moving Average at $14.30. On a fall, the fund will find some support from the short-term average at $14.07. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

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

Western Asset Diversified Income Fund finds support from accumulated volume at $14.06 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 $0.140 between high and low, or 1.00%. For the last week the fund has had daily average volatility of 0.799%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (WDI) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Western Asset Diversified Income Fund to open at $14.09, and during the day (based on 14 day Average True Range), to move between $13.96 and $14.28, which gives a possible trading interval of +/-$0.165 (+/-1.17%) 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 2.33% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $14.06 (0.42%) than the resistance at $14.36 (1.70%), 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 Diversified Income Fund fund A Buy?

Western Asset Diversified Income 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 fund. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this fund since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.875 Sell Candidate Downgraded

Predicted Opening Price for Western Asset Diversified Income Fund of Monday, April 29, 2024

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