Western Asset Corporate Loan Fu (TLI) on Focus After Forming Wedge Down Chart Pattern

June 18, 2018 - By Stephen Andrade

The stock of Western Asset Corporate Loan Fu (TLI) formed a down wedge with $9.50 target or 7.00 % below today’s $10.22 share price. The 5 months wedge indicates high risk for the $101.58M company. If the $9.50 price target is reached, the company will be worth $7.11 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 0.49% or $0.05 during the last trading session, reaching $10.22. About 54,923 shares traded or 73.59% up from the average. Western Asset Corporate Loan Fu (NYSE:TLI) has declined 10.23% since June 18, 2017 and is downtrending. It has underperformed by 22.80% the S&P500.

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