HYG Apparently Finds Some Support and Rallies Into Potential Resistance

As the daily closing price chart and analysis below indicate, HYG rallied off an apparent support line (solid green) and into two possible resistance lines (dashed green) that are recently broken support lines.

We will be interested in seeing if HYG can break back up through these potential resistance lines, or if HYG will verify these resistance lines.

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 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. This position may change depending on future price action.

 Base Chart Provided Courtesy of StockCharts.com.  Analysis and Annotation by JunkBond Recycling.com (all rights reserved)