Western Asset Variable Rate Str (GFY)’s Stock Formed A Several Months Bearish Wedge Down

April 17, 2018 - By Migdalia James

Investors sentiment increased to 4 in 2017 Q4. Its up 2.00, from 2 in 2017Q3. It is positive, as 0 investors sold Western Asset Variable Rate Str shares while 2 reduced holdings. 2 funds opened positions while 6 raised stakes. 2.77 million shares or 102.35% more from 1.37 million shares in 2017Q3 were reported.
16,252 were accumulated by Bank & Trust Of America De. Smith Moore & reported 0.06% stake. Wells Fargo And Mn reported 49,574 shares. Sit Inv Associate reported 0.48% of its portfolio in Western Asset Variable Rate Str (NYSE:GFY). 4,703 are held by Royal Natl Bank Of Canada. First Advsrs L P invested in 0% or 66,010 shares. Moreover, Carroll Finance Associates has 0% invested in Western Asset Variable Rate Str (NYSE:GFY) for 1,069 shares. Hightower Limited Liability, Illinois-based fund reported 18,808 shares. Citigroup owns 750 shares. 58,112 were accumulated by Morgan Stanley.

The stock of Western Asset Variable Rate Str (GFY) formed a down wedge with $16.40 target or 3.00 % below today’s $16.91 share price. The 5 months wedge indicates high risk for the $78.94M company. If the $16.40 price target is reached, the company will be worth $2.37 million less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 0.00% or $0.0006 during the last trading session, reaching $16.9094. About 3,050 shares traded. Western Asset Variable Rate Str (NYSE:GFY) has declined 0.53% since April 17, 2017 and is downtrending. It has underperformed by 12.08% the S&P500.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.