As suggested in our previous posts, lower prices could be in store for corporate high yield bond funds. Over the last few days, prices have precipitously dropped through the long-term support lines labeled S-1 and S-2 as shown in our two previous corporate high yield bond fund posts, dated 9/8/14 and 9/9/14.
Updated daily graphs for NHINX, BHYSX, and VWEHX with 9/26/2014 closing prices are below.
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The funds are back into oversold conditions per the RSI and may be at or near support as shown by the blue dashed line. As such, a rally is possible from here. We shall see.
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 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 no position in corporate high yield bond funds at the time this article was written.
Financial Disclosure:
The author/publisher has no position in corporate high yield bond funds at the time this article was written.
Base Chart Provided Courtesy of StockCharts.com. Analysis and Annotation by JunkBondRecycling.com (All Rights Reserved)
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