Western Asset Emerging Markets Income Stock Forecast
Stronger technical forecast for Western Asset Emerging Markets Income stock price after Thursday trading.
(Updated on Apr 25, 2024)
The Western Asset Emerging Markets Income stock price gained 0.335% on the last trading day (Thursday, 25th Apr 2024), rising from $8.96 to $8.99. During the last trading day the stock fluctuated 0.85% from a day low at $8.92 to a day high of $9.00. The price has risen in 5 of the last 10 days but is still down by -3.44% for this period. Volume fell on the last day by -59 thousand shares and in total, 183 thousand shares were bought and sold for approximately $1.65 million. 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 is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $8.93 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Western Asset Emerging Markets Income stock with a 90% probability to be traded between $9.05 and $9.77 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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EMD Signals & Forecast
There are mixed signals in the stock today. The Western Asset Emerging Markets Income stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $9.27. On a fall, the stock will find some support from the short-term average at $8.99. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.785%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 Emerging Markets Income stock
Western Asset Emerging Markets Income finds support from accumulated volume at $8.98 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.0760 between high and low, or 0.85%. For the last week, the stock has had daily average volatility of 1.10%.
Our recommended stop-loss: $8.48 (-5.66%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (EMD) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Western Asset Emerging Markets Income Fund Inc to open at $8.97, and during the day (based on 14 day Average True Range), to move between $8.88 and $9.10, which gives a possible trading interval of +/-$0.109 (+/-1.21%) 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 2.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $8.98 (0.11%) than the resistance at $9.12 (1.45%), 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 Emerging Markets Income Fund Inc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Western Asset Emerging Markets Income stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.706 Buy Candidate Upgraded
Predicted Opening Price for Western Asset Emerging Markets Income Fund Inc of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$8.97 ( 0.208%) | $8.99 |
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 | 9.05 | 0.638 % | |
R2 | 9.02 | 0.315 % | ||
R1 | 9.00 | 0.115 % | ||
Current price: | 8.99 | |||
Support | S1 | 8.94 | -0.531 % | |
S2 | 8.92 | -0.730 % | ||
S3 | 8.90 | -1.05 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9.17 | 2.00 % | |
R2 | 9.16 | 1.89 % | ||
R1 | 9.12 | 1.45 % | ||
Current price | 8.99 | |||
Support | S1 | 8.98 | -0.111% | |
S2 | 8.96 | -0.334% | ||
S3 | 8.92 | -0.779% |
EMD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 22, 2024 | May 22, 2024 | Jun 03, 2024 | $0.0845 | 0.94% |
2 | Feb 20, 2024 | Apr 22, 2024 | May 01, 2024 | $0.0845 | 0.94% |
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
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