High Yield Muni Bond ETF (HYD) Breaks Out of Pennant Pattern (daily chart)

click chart to enlarge

We pointed out in a previous post that a high yield muni MUTF (PYMDX) had a number of breakouts above resistance.  

Now as shown in the above daily chart, the high yield muni ETF, HYD, has broken up out of a large pennant pattern. 


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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 a long position in high yield muni bonds 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)