Indicator Wire: Ultimate Oscillator Climbs Above 60 for Western Asset High Yield Defined (HYI)

Looking closer at shares of Western Asset High Yield Defined (HYI), we have recently noted that the Ultimate Oscillator reading is currently above 60. Traders following this signal may be watching to see if the stock may possibly be heading into overbought territory. 

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At the time of writing, Western Asset High Yield Defined (HYI) has a 14-day Commodity Channel Index (CCI) of 155.98. Developed by Donald Lambert, the CCI is a versatile tool that may be used to help spot an emerging trend or provide warning of extreme conditions. CCI generally measures the current price relative to the average price level over a specific time period. CCI is relatively high when prices are much higher than average, and relatively low when prices are much lower than the average.

Western Asset High Yield Defined (HYI) currently has a 50-day Moving Average of 13.67, the 200-day Moving Average is 14.26, and the 7-day is noted at 14.10. Following moving averages with different time frames may help offer a wide variety of stock information. A longer average like the 200-day may serve as a smoothing tool when striving to evaluate longer term trends. On the flip side, a shorter MA like the 50-day may help with identifying shorter term trading signals. Moving averages may also function well as a tool for determining support and resistance levels.

Tracking the RSI levels for Western Asset High Yield Defined (HYI), the 3-day RSI stands at 98.82, the 7-day sits at 89.89 and the 14-day (most common) is at 76.70. The RSI, or Relative Strength Index is a popular oscillating indicator among traders and investors. The RSI operates in a range-bound area with values between 0 and 100. When the RSI line moves up, the stock may be experiencing strength. The opposite is the case when the RSI line is heading lower. Different time periods may be used when using the RSI indicator. The RSI may be more volatile using a shorter period of time. Many traders keep an eye on the 30 and 70 marks on the RSI scale. A move above 70 is widely considered to show the stock as overbought, and a move below 30 would indicate that the stock may be oversold. Traders may use these levels to help identify stock price reversals.

Shares of Western Asset High Yield Defined (HYI) currently have a 14-day ADX of 27.98. The ADX was developed by J. Welles Wilder to help determine trend strength. Generally speaking, a rising ADX line means that an existing trend is gaining strength. The opposite would be the case for a falling ADX line. Many chart analysts believe that an ADX reading over 25 would suggest a strong trend. A reading under 20 would suggest no trend, and a reading from 20-25 would suggest that there is no clear trend signal.

Western Asset High Yield Defined (HYI)’s Williams Percent Range or 14 day Williams %R is sitting at -14.58. Typically, if the value heads above -20, the stock may be considered to be overbought. On the flip side, if the indicator goes under -80, this may signal that the stock is oversold.

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