After Forming Double Bottom Pattern, Is Western Asset Corporate Loan Fu (TLI)’s Near-Term Analysis Negative?

May 17, 2018 - By Alfred Lee

The chart of Western Asset Corporate Loan Fu (TLI) shows a double bottom with $9.79 target or 6.00 % below today’s $10.42 share price. The 9 months chart pattern indicates high risk for the $103.56 million company. It was reported on May, 17 by Finviz.com. If the $9.79 price target is reached, the company will be worth $6.21 million less. Double bottoms are rare but powerful chart patterns.

The stock increased 0.29% or $0.03 during the last trading session, reaching $10.42. About 28,817 shares traded or 5.48% up from the average. Western Asset Corporate Loan Fu (NYSE:TLI) has declined 9.71% since May 17, 2017 and is downtrending. It has underperformed by 21.26% the S&P500.

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