Legg Mason BW Global Income Stock Forecast
Legg Mason BW Global Income stock price down 0.87% on Wednesday
(Updated on Apr 17, 2024)
The Legg Mason BW Global Income stock price fell by -0.87% on the last day (Wednesday, 17th Apr 2024) from $7.99 to $7.92. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 1.39% from a day low at $7.92 to a day high of $8.03. The price has fallen in 7 of the last 10 days and is down by -4.35% for this period. Volume has increased on the last day by 19 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 44 thousand shares were bought and sold for approximately $348.76 thousand.
The stock has broken the horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $8.16 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
BWG Signals & Forecast
There are few to no technical positive signals at the moment. The Legg Mason BW Global Income stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $8.13 and $8.40. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 11, 2024, and so far it has fallen -8.12%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Legg Mason BW Global Income gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Legg Mason BW Global Income stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 $0.110 between high and low, or 1.39%. For the last week the stock has had daily average volatility of 1.12%.
Legg Mason BW Global Income is oversold on RSI14 (6). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BWG) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Legg Mason BW Global Income Opportunities Fund Inc to open at $7.96, and during the day (based on 14 day Average True Range), to move between $7.83 and $8.01, which gives a possible trading interval of +/-$0.0948 (+/-1.20%) up or down from last closing price. If Legg Mason BW Global Income Opportunities Fund Inc takes out the full calculated possible swing range there will be an estimated 2.39% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $8.30, some $0.380 (4.80%) from the current price of $7.92, our system finds the risk reward not very attractive.
Is Legg Mason BW Global Income Opportunities Fund Inc stock A Buy?
Legg Mason BW Global Income holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.380 Sell Candidate Unchanged
Predicted Opening Price for Legg Mason BW Global Income Opportunities Fund Inc of Thursday, April 18, 2024
Fair opening price April 18, 2024 | Current price |
---|---|
$7.96 ( 0.462%) | $7.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BWG
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.07 | 1.85 % | |
R2 | 8.02 | 1.32 % | ||
R1 | 8.00 | 0.99 % | ||
Current price: | 7.92 | |||
Support | S1 | 7.91 | -0.0684 % | |
S2 | 7.89 | -0.396 % | ||
S3 | 7.85 | -0.93 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 8.41 | 6.19 % | |
R2 | 8.40 | 6.06 % | ||
R1 | 8.30 | 4.80 % | ||
Current price | 7.92 | |||
Support | S1 | 0 | . | |
S2 | 0 | . | ||
S3 | 0 | . |
BWG Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 22, 2024 | May 22, 2024 | Jun 03, 2024 | $0.0800 | 1.01% |
2 | Feb 20, 2024 | Apr 22, 2024 | May 01, 2024 | $0.0800 | 1.01% |
3 | Feb 20, 2024 | Mar 20, 2024 | Apr 01, 2024 | $0.0800 | 0.95% |
4 | Nov 16, 2023 | Feb 21, 2024 | Mar 01, 2024 | $0.0800 | 0.95% |
5 | Nov 14, 2023 | Jan 23, 2024 | Feb 01, 2024 | $0.0800 | 0.94% |
FAQ
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