HYI Western Asset High Yield Defined Opportunity Fund Forecast, Technical & Fundamental Analysis

HYI in +1.81% Uptrend, advancing for three consecutive days on December 01, 2023

Moving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where HYI advanced for three days, in of 303 cases, the price rose further within the following month. The odds of a continued upward trend are .

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on November 02, 2023. You may want to consider a long position or call options on HYI as a result. In of 91 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for HYI just turned positive on November 01, 2023. Looking at past instances where HYI's MACD turned positive, the stock continued to rise in of 50 cases over the following month. The odds of a continued upward trend are .

HYI moved above its 50-day moving average on November 13, 2023 date and that indicates a change from a downward trend to an upward trend.

The 10-day moving average for HYI crossed bullishly above the 50-day moving average on November 13, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 17 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

The 50-day moving average for HYI moved above the 200-day moving average on November 07, 2023. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.

The Aroon Indicator entered an Uptrend today. In of 234 cases where HYI Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The 10-day RSI Indicator for HYI moved out of overbought territory on December 05, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 30 similar instances where the indicator moved out of overbought territory. In of the 30 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Stochastic Oscillator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where HYI declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

HYI broke above its upper Bollinger Band on December 01, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)