Could Western Asset Managed Municipals Fund Inc. (MMU) Gain Strenght After Forming Bearish Multiple Bottom Pattern?

July 27, 2018 - By Kristin Houston

Investors sentiment increased to 1 in Q1 2018. Its up 0.06, from 0.94 in 2017Q4. It improved, as 6 investors sold Western Asset Managed Municipals Fund Inc. shares while 12 reduced holdings. 11 funds opened positions while 7 raised stakes. 4.78 million shares or 6.49% more from 4.49 million shares in 2017Q4 were reported.
Ubs Asset Management Americas has 795 shares for 0% of their portfolio. The Missouri-based Smith Moore Com has invested 0.22% in Western Asset Managed Municipals Fund Inc. (NYSE:MMU). Raymond James Trust Na reported 12,900 shares. Dynamic Advisor Solutions Ltd Liability Corporation has 12,650 shares for 0.04% of their portfolio. Royal Bank Of Canada accumulated 0% or 49,870 shares. Robinson Mgmt Ltd Company holds 43,825 shares. Financial Service accumulated 9,800 shares. Citadel Advsrs Ltd Liability has invested 0% in Western Asset Managed Municipals Fund Inc. (NYSE:MMU). Raymond James Service Advisors Incorporated accumulated 149,326 shares. Chevy Chase Trust Incorporated owns 25,000 shares or 0% of their US portfolio. Capital Invest Advisors Limited Liability has 73,170 shares for 0.06% of their portfolio. 2.53 million are owned by Morgan Stanley. Stratos Wealth Ptnrs Limited, Ohio-based fund reported 105,877 shares. Clearbridge Invests Ltd Llc stated it has 112 shares. Citigroup stated it has 2,400 shares.

Since April 12, 2018, it had 0 buys, and 1 sale for $25.00 million activity.

The stock of Western Asset Managed Municipals Fund Inc. (MMU) shows a multiple bottoms pattern with $11.59 target or 9.00 % below today’s $12.74 share price. The 6 months chart pattern indicates high risk for the $551.50 million company. It was reported on Jul, 27 by Finviz.com. If the $11.59 price target is reached, the company will be worth $49.63 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 0.31% or $0.04 during the last trading session, reaching $12.74. About 77,515 shares traded. Western Asset Managed Municipals Fund Inc. (NYSE:MMU) has declined 8.04% since July 27, 2017 and is downtrending. It has underperformed by 20.61% the S&P500.

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