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Archive
- 4/26/2024 -
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SPDR Bloomberg Barclays High Yield Bond ETF (JNK) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the SPDR Bloomberg Barclays High Yield Bond ETF (JNK). During the week, the JNK climbed 0.73 points, or 0.78%, and closed at 93.73 on Friday, April 26, 2024. Weekly volume was -38% below average.
 Long-term trend: [See JNK long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 86.28 and reached 95.59 on December 27, 2023. JNK gained -9.31 points, or -10.79%, in 62 weeks. The price is now at the 19.98% retracement level.
 Medium-term trend: [See JNK medium-term trend chart]
A medium-term downtrend had started on December 27, 2023 at 95.59 and reached 92.47 on April 16, 2024. JNK lost 3.12 points, or 3.26%, in 15 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See JNK weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 28, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See JNK short-term trend chart]
A short-term downtrend had started on March 21, 2024 at 95.44 and reached 92.47 on April 16, 2024. JNK lost 2.97 points, or 3.11%, in 26 days. The chart has formed a Broadening Descending Wedge chart pattern.
Daily Technical Indicators: [See JNK daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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