Friday, October 10, 2014

Municipal High Yield Bond Funds Continue Climbing - Break Above Resistance

The following daily charts show that municipal high yield bond funds ABHYX (American Century) and PRFHX (T Rowe Price) have continued climbing and have broken above resistance lines R1 since our last post on August 26, 2014

The RSI (Relative Strength Index - upper part of chart) indicates these funds are (again) into overbought territory.

Going forward we will be interested to see if these resistance lines can now act as support.

Click Chart To Enlarge

Click Chart to Enlarge

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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