Thursday, July 24, 2014

Corporate High Yield Bond Fund (NHINX) Also Breaks Support - Ready to Test Resistance?

Corporate high yield bond fund NHINX has apparently broken longer-term support lines S1 and S2 in the chart below and is currently in oversold conditions per the Relative Strength Indicator (RSI - upper part of chart).  

After yesterday's move up, NHINX may be looking to alleviate oversold conditions and test S2 as resistance. 

We do not view these support breaks as positive indicators for NHINX or corporate high yield bonds in general.  

However, we do not predict the market and we shall see, as time (and the charts) will tell what the next move is . . . 

(Click Chart To Enlarge)

NHINX chart: 7yr | 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 in their entirety. The U.S. Securities and Exchange Commission website has guidance on selecting an investment adviser.

Financial Disclosure:
The author/publisher holds no position in NHINX or other corporate high yield bond funds.

Base Chart Provided Courtesy of  Analysis and Annotation by (All Rights Reserved)

No comments:

Post a Comment