Western Asset Variable Rate Str (GFY)’s Trend Down, Especially After Forming a Wedge Down Chart Pattern

July 13, 2018 - By Russell Jones

Investors sentiment decreased to 1 in Q1 2018. Its down 3.00, from 4 in 2017Q4. It worsened, as 0 investors sold Western Asset Variable Rate Str shares while 4 reduced holdings. 1 funds opened positions while 3 raised stakes. 1.39 million shares or 49.85% less from 2.77 million shares in 2017Q4 were reported.
Sit Invest Inc holds 1.18M shares or 0.49% of its portfolio. Morgan Stanley holds 0% or 65,961 shares. 12,768 are held by National Bank Of America De. Carroll Fin Associate has invested 0% in Western Asset Variable Rate Str (NYSE:GFY). Wells Fargo Com Mn stated it has 26,476 shares. First Trust Ltd Partnership stated it has 0% of its portfolio in Western Asset Variable Rate Str (NYSE:GFY). Royal Fincl Bank Of Canada has 4,703 shares for 0% of their portfolio. Hightower Advsr Ltd Liability stated it has 18,600 shares. 12,300 are owned by Smith Moore & Com. Citigroup Incorporated reported 750 shares.

The stock of Western Asset Variable Rate Str (GFY) formed a down wedge with $15.96 target or 4.00 % below today’s $16.62 share price. The 5 months wedge indicates high risk for the $77.59 million company. If the $15.96 price target is reached, the company will be worth $3.10M 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 0.18% or $0.0299 during the last trading session, reaching $16.6201. About 303 shares traded. Western Asset Variable Rate Str (NYSE:GFY) has risen 0.89% since July 13, 2017 and is uptrending. It has underperformed by 11.68% the S&P500.

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