RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of EMD
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Weaker technical forecast for Western Asset Emerging Markets Income as stock downgraded to Hold/Accumulate.
(Updated on Mar 28, 2024)

Buy or Hold candidate since Mar 18, 2024 Gain 3.33% PDF

The Western Asset Emerging Markets Income stock price gained 0.84% on the last trading day (Thursday, 28th Mar 2024), rising from $9.53 to $9.61. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 0.734% from a day low at $9.54 to a day high of $9.61. The price has risen in 9 of the last 10 days and is up by 3.78% 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, 93 thousand more shares were traded than the day before. In total, 247 thousand shares were bought and sold for approximately $2.38 million.

The stock has broken the narrow and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $9.39, a level that may pose a second chance to hit a runner. According to fan-theory $9.65 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

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EMD Signals & Forecast

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 $9.43 and $9.22. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, February 22, 2024, and so far it has risen 6.66%. 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 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.

Buy
Special Signal Notification

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 0.734%. For the last week the stock has had daily average volatility of 0.679%.

The Western Asset Emerging Markets Income stock is extremely overbought on RSI14 (88). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the Western Asset Emerging Markets Income has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.

Our recommended stop-loss: $9.17 (-4.57%) (This stock has low daily movements and this gives low risk. The RSI14 is 88 and this increases the risk substantially. There is a buy signal from a pivot bottom found 25 days ago.)

Trading Expectations (EMD) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Western Asset Emerging Markets Income Fund Inc to open at $9.59, and during the day (based on 14 day Average True Range), to move between $9.53 and $9.69, which gives a possible trading interval of +/-$0.0818 (+/-0.85%) 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 1.70% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $9.17, some $0.440 (4.58%) from the current price of $9.61, our system finds the risk reward attractive.

Is Western Asset Emerging Markets Income Fund Inc stock A Buy?

Western Asset Emerging Markets Income holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Western Asset Emerging Markets Income Fund Inc of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$9.59 ( 0.243%) $9.61

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 9.66 0.486 %
R2 9.63 0.207 %
R1 9.61 0.0354 %
Current price: 9.61
Support S1 9.56 -0.521 %
S2 9.54 -0.693 %
S3 9.52 -0.97 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 9.61
Support S1 9.17 -4.58%
S2 9.04 -5.93%
S3 8.99 -6.45%

EMD Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Feb 22, 2024 May 22, 2024 Jun 03, 2024 $0.0845 0.88%
2 Feb 20, 2024 Apr 22, 2024 May 01, 2024 $0.0845 0.88%
3 Feb 20, 2024 Mar 20, 2024 Apr 01, 2024 $0.0845 0.88%
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

What is the symbol for Western Asset Emerging Markets Income Fund Inc Stock and on which exchange is it traded?
The symbol for Western Asset Emerging Markets Income Fund Inc is EMD and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Western Asset Emerging Markets Income Fund Inc Stock?
Western Asset Emerging Markets Income holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

How to buy Western Asset Emerging Markets Income Fund Inc Stock?
Western Asset Emerging Markets Income Fund Inc Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Western Asset Emerging Markets Income Fund Inc Stock.

What's the current price of Western Asset Emerging Markets Income Fund Inc Stock?
As of the end of day on the 2024-03-28, the price of an Western Asset Emerging Markets Income Fund Inc (EMD) share was $9.61.

What is the 52-week high and low for Western Asset Emerging Markets Income Fund Inc Stock?
The 52-week high for Western Asset Emerging Markets Income Fund Inc Stock is $9.61 and the 52-week low is $7.85.

What is the market capitalization of Western Asset Emerging Markets Income Fund Inc Stock?
As of the 2024-03-28, the market capitalization of Western Asset Emerging Markets Income Fund Inc is 570.764M.
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About Western Asset Emerging Markets Income Fund Inc

Western Asset Emerging Markets Debt Fund Inc. is an open ended fixed-income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. It is co-managed by Western Asset Management Company, Western Asset Management Company Limited and Western Asset Management Company Pte. Ltd. The fund invests in fixed income markets of emerging market countries across the globe. It seeks to invest in fixed income securities issued by governments, ... EMD Profile

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