Western Asset Emerging Markets Income Fund Inc Forecast and Stock Analysis
Technical EMD stock analysis for March 15, 2019.
|Shorts||1.75% ( 2013-01-15 )|
Western Asset Emerging Markets Income Fund Inc gained 0.36% in the last trading day, rising from $13.80 to $13.85 The price has fallen in 5 of the last 10 days and is down by -0.65% for this period. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 131 680 more shares were traded than the day before. In total, 197 230 shares bought and sold for approximately $2.73 million.
Close price at the end of the last trading day (Friday, 15th Mar 2019) of the EMD stock was $13.85. This is 0.36% more than the trading day before Thursday, 14th Mar 2019.
During day the stock fluctuated 0.73% from a day low at $13.79 to a day high of $13.89.
30 day high of the EMD stock price was $13.98 and low was $13.44.
90 day high was $13.98 and low was $11.82.
52 week high for the Western Asset Emerging Markets Income Fund Inc - $14.74 and low - $11.82.
Western Asset Emerging Markets Income Fund Inc lies in the lower part of a strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $13.73 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 14.54% during the next 3 months and, with 90% probability hold a price between $15.72 and $16.88 at the end of this period.
Only positive signals in the chart today. Western Asset Emerging Markets Income Fund Inc holds buy signals from both short- and long-term moving averages. In addition, 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 $13.74 and $13.69. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday March 08, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 49 and the stock is currently not being overbought or oversold
Support & Resistance
Western Asset Emerging Markets Income Fund Inc finds support from accumulated volume at $13.61.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.10 (0.73%) between high and low. For the last week, the stock has had a daily average volatility of 0.58%.
Our recommended stoploss: $13.06 (-5.68%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 5 days ago.)
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Evaluation: Strong Buy Candidate
Western Asset Emerging Markets Income Fund Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Strong Buy Candidate.