Wednesday, December 10, 2014

Corporate High Yield Bond ETF (HYG) Continues to Break Support Lines - Due For A Bounce?

Corporate High Yield Bond ETF HYG has continued to break support lines since our last post on 11/28/14.  

The daily chart below shows that HYG recently broke support at about $90 per share (dashed green line) and fell quickly to $88.77

HYG now appears to be at the blue falling support line from which it has briefly rallied before.  

Where do we go from here? Will we see another rally off the blue support line or will prices continue to decline from here?

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 has no position in corporate high yield bond funds at the time this article was written.

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