Templeton Emerging Markets Income Fund Stock Forecast
Templeton Emerging Markets Income Fund stock downgraded to Hold/Accumulate
(Updated on Apr 18, 2024)
The Templeton Emerging Markets Income Fund stock price gained 0.388% on the last trading day (Thursday, 18th Apr 2024), rising from $5.15 to $5.17. During the last trading day the stock fluctuated 1.38% from a day low at $5.15 to a day high of $5.22. The price has fallen in 5 of the last 10 days and is down by -3.54% for this period. Volume fell on the last day by -140 thousand shares and in total, 119 thousand shares were bought and sold for approximately $614.53 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 lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $5.12 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 3.75% during the next 3 months and, with a 90% probability hold a price between $5.31 and $5.76 at the end of this 3-month period.
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TEI Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.17%. 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 Templeton Emerging Markets Income Fund 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 $5.24 and $5.32. 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). 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.
Support, Risk & Stop-loss for Templeton Emerging Markets Income Fund stock
Templeton Emerging Markets Income Fund finds support from accumulated volume at $5.15 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 $0.0710 between high and low, or 1.38%. For the last week the stock has had daily average volatility of 1.64%
Our recommended stop-loss: $4.89 (-5.42%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (TEI) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Templeton Emerging Markets Income Fund Inc to open at $5.18, and during the day (based on 14 day Average True Range), to move between $5.09 and $5.25, which gives a possible trading interval of +/-$0.0756 (+/-1.46%) up or down from last closing price. If Templeton Emerging Markets Income Fund Inc takes out the full calculated possible swing range there will be an estimated 2.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $5.18 (0.19%) than the support at $5.15 (0.39%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Templeton Emerging Markets Income Fund Inc stock A Buy?
Templeton Emerging Markets Income Fund holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.642 Hold/Accumulate Downgraded
Predicted Opening Price for Templeton Emerging Markets Income Fund Inc of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $5.18 ( 0.187%) | $5.17 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TEI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.25 | 1.56 % | |
| R2 | 5.22 | 1.04 % | ||
| R1 | 5.21 | 0.712 % | ||
| Current price: | 5.17 | |||
| Support | S1 | 5.15 | -0.338 % | |
| S2 | 5.14 | -0.662 % | ||
| S3 | 5.11 | -1.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.36 | 3.68 % | |
| R2 | 5.34 | 3.29 % | ||
| R1 | 5.18 | 0.193 % | ||
| Current price | 5.17 | |||
| Support | S1 | 5.15 | -0.387% | |
| S2 | 5.13 | -0.774% | ||
| S3 | 5.11 | -1.16% |
TEI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Mar 18, 2024 | Mar 28, 2024 | $0.0475 | 0.87% |
| 2 | Feb 08, 2024 | Feb 16, 2024 | Feb 29, 2024 | $0.0475 | 0.90% |
| 3 | Dec 18, 2023 | Jan 18, 2024 | Jan 31, 2024 | $0.0475 | 0.92% |
| 4 | Dec 15, 2023 | Dec 15, 2023 | Dec 29, 2023 | $0.0462 | 0.91% |
| 5 | Nov 07, 2023 | Nov 16, 2023 | Nov 30, 2023 | $0.0440 | 0.88% |
FAQ
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