Western Asset Investment Grade Defined Stock Forecast

Red day on Wednesday for Western Asset Investment Grade Defined
(Updated on Apr 24, 2024)

IGI Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 0.242%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Western Asset Investment Grade Defined 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 $16.69 and $17.01. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Western Asset Investment Grade Defined 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 Western Asset Investment Grade Defined stock

Western Asset Investment Grade Defined finds support from accumulated volume at $16.56 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 $0.220 between high and low, or 1.33%. For the last week the stock has had daily average volatility of 0.99%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (IGI) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Western Asset Investment Grade Defined Opportunity Trust Inc to open at $16.64, and during the day (based on 14 day Average True Range), to move between $16.43 and $16.77, which gives a possible trading interval of +/-$0.168 (+/-1.01%) up or down from last closing price. If Western Asset Investment Grade Defined Opportunity Trust Inc takes out the full calculated possible swing range there will be an estimated 2.03% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $16.56 (0.24%) than the resistance at $16.92 (1.93%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Western Asset Investment Grade Defined Opportunity Trust Inc stock A Buy?

Western Asset Investment Grade Defined holds several negative signals and is within a narrow and 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: -2.202 Sell Candidate Unchanged

Predicted Opening Price for Western Asset Investment Grade Defined Opportunity Trust Inc of Thursday, April 25, 2024

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