Wednesday, July 16, 2014

Another Look Indicates Municipal High Yield Bond Fund (ABHYX) Has Tested Support

Please see our most-recent previous post here.  

The following 5-year daily chart shows that municipal high yield bond fund ABHYX (American Century) has tested/re-tested three support lines (S1, S2, and S3) at an oversold condition based on the RSI (Relative Strength Index just below 30 - upper part of chart).  

(Click Chart to Enlarge)

ABHYX Chart: 5yr | daily | semi-log | unadjusted prices

We shall see if ABHYX can break back above the 100-day ema. Note that it has been our experience that moving averages become poor technical indicators for support and resistance (and buying/selling) in sideways moving markets.

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 owns shares of municipal high yield bond mutual fund ABHYX.

Base Chart Provided Courtesy of  Analysis and Annotation by JunkBond (all rights reserved)

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