Western Asset Emerging Markets Income Stock Forecast
Green day on Wednesday for Western Asset Emerging Markets Income stock after gaining 0.634%
(Updated on Mar 27, 2024)
The Western Asset Emerging Markets Income stock price gained 0.634% on the last trading day (Wednesday, 27th Mar 2024), rising from $9.47 to $9.53. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.740% from a day low at $9.46 to a day high of $9.53. The price has risen in 8 of the last 10 days and is up by 2.8% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 13 thousand more shares were traded than the day before. In total, 155 thousand shares were bought and sold for approximately $1.47 million.
The stock lies in the upper part of a narrow and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $9.55 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.18% during the next 3 months and, with a 90% probability hold a price between $9.31 and $9.76 at the end of this 3-month period.
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EMD Signals & Forecast
Mostly positive signals in the chart today. The Western Asset Emerging Markets Income stock 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 $9.39 and $9.21. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, January 23, 2024, and so far it has risen 6.36%. 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). Western Asset Emerging Markets Income has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. The stock had a Golden Star Signal on Tuesday, July 11, 2023 in the long-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 stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, July 11, 2023 in the long-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 stock in question.
Support, Risk & Stop-loss for Western Asset Emerging Markets Income stock
Western Asset Emerging Markets Income finds support from accumulated volume at $9.17 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.0700 between high and low, or 0.740%. For the last week the stock has had daily average volatility of 0.636%.
The Western Asset Emerging Markets Income stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $9.22 (-3.26%) (This stock has low daily movements and this gives low risk. The RSI14 is 87 and this increases the risk substantially. There is a buy signal from a pivot bottom found 45 days ago.)
Trading Expectations (EMD) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Western Asset Emerging Markets Income Fund Inc to open at $9.51, and during the day (based on 14 day Average True Range), to move between $9.45 and $9.61, which gives a possible trading interval of +/-$0.0821 (+/-0.86%) up or down from last closing price. If Western Asset Emerging Markets Income Fund Inc takes out the full calculated possible swing range there will be an estimated 1.72% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $9.17, some $0.360 (3.78%) from the current price of $9.53, our system finds the risk reward attractive.
Is Western Asset Emerging Markets Income Fund Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Western Asset Emerging Markets Income stock to perform well in the short-term.
Current score: 4.172 Buy Candidate Unchanged
Predicted Opening Price for Western Asset Emerging Markets Income Fund Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$9.51 ( 0.245%) | $9.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EMD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.58 | 0.490 % | |
R2 | 9.55 | 0.209 % | ||
R1 | 9.53 | 0.0357 % | ||
Current price: | 9.53 | |||
Support | S1 | 9.48 | -0.525 % | |
S2 | 9.46 | -0.699 % | ||
S3 | 9.44 | -0.98 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 9.53 | |||
Support | S1 | 9.17 | -3.78% | |
S2 | 9.04 | -5.14% | ||
S3 | 8.99 | -5.67% |
EMD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 22, 2024 | May 22, 2024 | Jun 03, 2024 | $0.0845 | 0.89% |
2 | Feb 20, 2024 | Apr 22, 2024 | May 01, 2024 | $0.0845 | 0.89% |
3 | Feb 20, 2024 | Mar 20, 2024 | Apr 01, 2024 | $0.0845 | 0.89% |
4 | Nov 16, 2023 | Feb 21, 2024 | Mar 01, 2024 | $0.0845 | 0.92% |
5 | Nov 14, 2023 | Jan 23, 2024 | Feb 01, 2024 | $0.0845 | 0.92% |
FAQ
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