WESTERN ASSET HIGH INC II (HIX)       5.2  -0.01 (-0.19%)

5.2  -0.01 (-0.19%)

US95766J1025 - After market: 5.35 +0.15 (+2.88%)

Technical Rating

6

We assign a technical rating of 6 out of 10 to HIX. In the past year, HIX was only an average performing stock in the market. The medium term picture is unclear, although we see some positive events in recent action.



The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
HIX is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
When compared to the yearly performance of all other stocks, HIX outperforms 41% of them, which is more or less in line with the market.
HIX is currently trading in the middle of its 52 week range. This is in line with the S&P500 Index, which is also trading in the middle of its range.

Statistics

1 Month 3 Months 6 Months 12 Months 10.62% -3.70% 0.97% -23.72% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 41.07 4.14 - 7.26
HIX Weekly chart
HIX Daily chart

Support/Resistance Analysis


4.92

5.86
When analyzing the support we notice one important area.
  • A support zone ranging from 4.97 to 5.04. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice 3 important areas.
  • A resistance zone ranging from 5.20 to 5.26. This zone is formed by a combination of multiple trend lines in multiple time frames.
  • Resistance @5.59 from a trend line in the daily time frame.
  • Resistance @5.80 from a horizontal line in the weekly time frame.

Setup Analysis

Setup Rating

7

Although the technical rating is only medium, HIX does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 5.04, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

  • A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.

Possible Trading Setup

The following trade can be suggested based on the decent technical rating and setup score.


ENTRYEXITDISTANCECAPITAL
5.275.000.27 (5.12%)19.52%
An entry @5.27. This is a Buy Stop order right above the resistance zone.An exit @5.00. This is a Stop Loss order right below the 10 day low.The worst case loss on the trade is limited to 0.27 points, which is 5.12%.For a 1.00% total portfolio risk, you can invest 19.52% of your capital in this trade.

  • The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
  • This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
HIX Daily chart

WESTERN ASSET HIGH INC II5.2

NYSE:HIX (12/8/2022, 3:10:04 PM)-0.01 (-0.19%)

After market: 5.35 +0.15 (+2.88%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector N/A
GICS Industry N/A
Performance
Today -0.19% 1 Week -0.38%
2 Weeks -0.95% 1 Month 10.62%
3 Month -3.7% 6 Month 0.97%
Volatility
ATR(14) 0.12 ATR(20)% 2.19%
ATR Inc -39.94% Range Today 0.07
Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)
Relative Strength & Ranges
CRS 41.07 Mansfield -0.1
10 Day High 5.35 10 Day Low 5.01
20 Day High 5.35 20 Day Low 4.64
52 Week High 7.26 52 Week Low 4.14
CS1 End 5.04 CR1 Start 5.23
Volume & EV
DER(3) -6.36% DER(5) -8.36%
Volume 218.03K Volume Incr -0.07%
Vol(5) 239.28K Vol(50) 239.20K

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