Western Asset Variable Rate Str (GFY) Draws Bearish Attention After Forming Bearish Wedge Down

April 17, 2018 - By Clifton Ray

Investors sentiment increased to 4 in Q4 2017. 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.
12,538 are owned by Smith Moore Commerce. Wells Fargo & Mn holds 49,574 shares or 0% of its portfolio. 1,069 were accumulated by Carroll Inc. Commercial Bank Of America De accumulated 0% or 16,252 shares. Hightower Ltd Liability Company holds 0% of its portfolio in Western Asset Variable Rate Str (NYSE:GFY) for 18,808 shares. Sit Invest Assocs reported 1.15M shares or 0.48% of all its holdings. Royal Bank Of Canada has 0% invested in Western Asset Variable Rate Str (NYSE:GFY). Citigroup accumulated 750 shares. First Tru Advsrs L P has invested 0% of its portfolio in Western Asset Variable Rate Str (NYSE:GFY). Morgan Stanley holds 58,112 shares or 0% of its portfolio.

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.

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