Wednesday, April 23, 2014

Municipal High Yield Bond Fund Updates: PRFHX and ABHYX

Please see previous posts on municipal high yield bond fund relative performance and technical analysis.

The following 5-year weekly charts show similar patterns for municipal high yield bond funds PRFHX (T. Rowe Price) and ABHYX (American Century). Both funds have broken above previous resistance lines labeled "S1" and "S2", which have been tested, and now act as support lines.  Both funds are now up against resistance lines labeled "R1".

(click chart to enlarge)

PRFHX chart:  5yr | weekly | semi-log

(click chart to enlarge)

ABHYX chart:  5yr | weekly | semi-log

Going forward, we will be interested to see if current support levels (S1 and S2) for these funds will hold and if these funds can continue their increasing price trend, break through their respective resistance lines (R1) and establish additional support.

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 in their entirety. The U.S. Securities and Exchange Commission website has guidance on selecting an investment adviser.

Financial Disclosure:
The author/publisher does not own any shares of PRFHX, but does own shares of municipal high yield bond mutual fund ABHYX.

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