Western Asset Variable Rate Str (GFY) Formed a Wedge Down, Could Be One of The Worst Performers Going Forward

April 17, 2018 - By Tina Thibodeau

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.
Smith Moore reported 0.06% stake. Hightower Advsrs Ltd Liability, Illinois-based fund reported 18,808 shares. Citigroup has 750 shares. Sit Investment Assocs Inc reported 0.48% stake. Royal Bancorp Of Canada has invested 0% in Western Asset Variable Rate Str (NYSE:GFY). Morgan Stanley holds 0% or 58,112 shares. National Bank Of America De stated it has 0% of its portfolio in Western Asset Variable Rate Str (NYSE:GFY). Wells Fargo And Mn invested in 49,574 shares or 0% of the stock. Carroll Assocs invested 0% in Western Asset Variable Rate Str (NYSE:GFY). First Trust Ltd Partnership owns 66,010 shares.

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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