The following charts show that municipal high yield bond funds ABHYX (American Century) and PRFHX (T Rowe Price) are testing resistance after rallies off support.
The RSI (Relative Strength Index - upper part of chart) indicates these funds are into overbought territory.
Going forward we will be interested to see the price action at these resistance lines, particularly given the overbought conditions of these funds.
(Click Charts to Enlarge)
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Financial Disclosure:
The author/publisher owns shares of municipal high yield bond mutual fund ABHYX.
Base Chart Provided Courtesy of StockCharts.com. Analysis and Annotation by JunkBond Recycling.com (all rights reserved)
Financial Disclosure:
The author/publisher owns shares of municipal high yield bond mutual fund ABHYX.
Base Chart Provided Courtesy of StockCharts.com. Analysis and Annotation by JunkBond Recycling.com (all rights reserved)
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