Western Asset Municipal High Income Fund Stock Forecast
Green day on Thursday for Western Asset Municipal High Income Fund stock after gaining 0.295%
(Updated on Mar 28, 2024)
The Western Asset Municipal High Income Fund stock price gained 0.295% on the last trading day (Thursday, 28th Mar 2024), rising from $6.77 to $6.79. During the last trading day the stock fluctuated 0.741% from a day low at $6.75 to a day high of $6.80. The price has risen in 7 of the last 10 days and is up by 2.41% over the past 2 weeks. Volume fell on the last day by -10 thousand shares and in total, 46 thousand shares were bought and sold for approximately $312.15 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 $6.81 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 4.86% during the next 3 months and, with a 90% probability hold a price between $6.96 and $7.14 at the end of this 3-month period.
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MHF Signals & Forecast
The Western Asset Municipal High Income Fund 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 $6.74 and $6.65. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 21, 2024, and so far it has risen 1.65%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. 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 Municipal High Income Fund stock
Western Asset Municipal High Income Fund finds support from accumulated volume at $6.61 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.0500 between high and low, or 0.741%. For the last week the stock has had daily average volatility of 0.94%
The Western Asset Municipal High Income Fund 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: $6.49 (-4.45%) (This stock has low daily movements and this gives low risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (MHF) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Western Asset Municipal High Income Fund Inc to open at $6.78, and during the day (based on 14 day Average True Range), to move between $6.73 and $6.85, which gives a possible trading interval of +/-$0.0630 (+/-0.93%) up or down from last closing price. If Western Asset Municipal High Income Fund Inc takes out the full calculated possible swing range there will be an estimated 1.86% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $6.61, some $0.180 (2.65%) from the current price of $6.79, our system finds the risk reward attractive.
Is Western Asset Municipal High 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 Municipal High Income Fund stock to perform well in the short-term.
Current score: 4.711 Buy Candidate Unchanged
Predicted Opening Price for Western Asset Municipal High Income Fund Inc of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$6.78 ( 0.147%) | $6.79 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MHF
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 6.83 | 0.589 % | |
R2 | 6.81 | 0.308 % | ||
R1 | 6.80 | 0.134 % | ||
Current price: | 6.79 | |||
Support | S1 | 6.76 | -0.429 % | |
S2 | 6.75 | -0.602 % | ||
S3 | 6.73 | -0.88 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 6.79 | |||
Support | S1 | 6.61 | -2.65% | |
S2 | 6.57 | -3.24% | ||
S3 | 6.42 | -5.45% |
MHF Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 22, 2024 | May 22, 2024 | Jun 03, 2024 | $0.0340 | 0.502% |
2 | Feb 20, 2024 | Apr 22, 2024 | May 01, 2024 | $0.0340 | 0.502% |
3 | Feb 20, 2024 | Mar 20, 2024 | Apr 01, 2024 | $0.0340 | 0.502% |
4 | Nov 16, 2023 | Feb 21, 2024 | Mar 01, 2024 | $0.0220 | 0.333% |
5 | Nov 14, 2023 | Jan 23, 2024 | Feb 01, 2024 | $0.0220 | 0.335% |
FAQ
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