After a sharp rally off support line S1 followed by a couple weeks of mostly sideways movement, corporate high yield bond fund NHINX appears to be moving lower after encountering dual resistance lines R1 and R2 shown in the daily chart below. Of the funds we track, NHINX often is a trend leader.
Lower prices ahead for corporate high yield bonds? Will support line S1 be tested (again) and hold? We shall see. In any case, we don't see this recent price action combined with the bigger picture pattern showing lower highs and lower lows as a positive sign for corporate high yield bond funds.
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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 no position in corporate high yield bond mutual funds at the time this article was written.
Financial Disclosure:
The author/publisher has no position in corporate high yield bond mutual funds at the time this article was written.
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