Western Asset Diversified Income Fund Fund Forecast

Western Asset Diversified Income Fund fund upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on May 08, 2024)

WDI Signals & Forecast

Mostly positive signals in the chart today. 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. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $14.24 and $14.24. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 4.70%. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 $14.45 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 $0.0800 between high and low, or 0.555%. For the last week the fund has had daily average volatility of 0.673%.

Our recommended stop-loss: $13.71 (-5.24%) (This fund has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (WDI) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect Western Asset Diversified Income Fund to open at $14.46, and during the day (based on 14 day Average True Range), to move between $14.32 and $14.62, which gives a possible trading interval of +/-$0.151 (+/-1.04%) 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 2.08% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $14.48 (0.07%) than the support at $14.45 (0.14%), 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?

Several short-term signals are positive, despite the fund being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for fund to perform well in the short-term. We have upgraded our analysis conclusion for this fund since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.128 Buy Candidate Upgraded

Predicted Opening Price for Western Asset Diversified Income Fund of Thursday, May 9, 2024

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