Please see the previous post, dated 3/19/2014, on corporate high yield bond fund NHINX.
The chart below shows that NHINX appears be on the verge of a breakout after its price range has been confined within an apparent pennant (or symmetrical triangle) pattern defined by R1 and S1 since about May 2013. The chart shows that NHINX's price has just broken above falling resistance line R1.
(Click Chart to Enlarge)
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NHINX chart: 16 mo | daily | semi-log | unadjusted prices |
Going forward, we will be interested to see if NHINX will remain above long-term support line S2 (see 5-yr daily chart below) and break above resistance line R2 (shown in both charts).
(Click Chart to Enlarge)
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NHINX chart: 5 yr | daily | semi-log | unadjusted prices |
Not Investment Advice | Important Disclaimer:
The content in this article, including the identification and discussion of any specific security (e.g., bond fund), is NOT meant to be and should NOT be construed and/or used as investment advice. This article is for general information and educational purposes only. Please read the Disclaimers for junkbondrecycling.com in their entirety. The U.S. Securities and Exchange Commission website has guidance on selecting an investment adviser.
Financial Disclosure:
The author/publisher holds positions in NHINX and other corporate high yield bond funds.
Financial Disclosure:
The author/publisher holds positions in NHINX and other corporate high yield bond funds.
Base Chart Provided Courtesy of StockCharts.com. Analysis and Annotation by JunkBondRecycling.com (All Rights Reserved)
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