In our previous post on August 13, 2014, it was illustrated that TGEIX had found dual support lines with associated positive price reaction at support lines S1 and S2.
As shown in the chart below TGEIX has continued its climb as it has now moved above and tested support line S3.
Overbought/oversold conditions based on the RSI (Relative Strength Index - upper part of the chart) are about neutral.
(Click Chart to Enlarge)
Going forward we will be interested to see if TGEIX will remain above support line S3 and possibly challenge resistance line R1 again without going into overbought conditions, which in our opinion, decrease the chance of a breakout.
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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 a position in TGEIX.
Financial Disclosure:
The author/publisher has a position in TGEIX.
Base Chart Provided Courtesy of StockCharts.com. Analysis and Annotation by JunkBond Recycling.com (all rights reserved)
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