Global High Yield Fund (BJBHX) - Breakout of Long-term Pennant Pattern?

Global high yield fund BJBHX appears to have broken above long-term resistance line R1 and out of a long-term pennant or symmetrical triangle pattern defined by resistance line R1 and support line S1.

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BJBHX chart: 5yr | daily | semi-log | unadjusted prices

Going forward we will be interested to see if R1 now acts as support (in the short-term), S1 and S2 continue to act as support (in the longer-term), and if so, what happens if BJBHX eventually tests long-term rising resistance line R2.

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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 has no position in BJBHX or any other global high yield funds.

Base Chart Provided Courtesy of StockCharts.com.  Analysis and Annotation by JunkBond Recycling.com (all rights reserved)