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- 4/19/2024 -
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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 the negative week for the SPDR Bloomberg Barclays High Yield Bond ETF (JNK). During the week, the JNK gave back -0.44 points, or -0.47%, and closed at 93.00 on Friday, April 19, 2024. Weekly volume was -13% below average.
 Long-term trend: [See JNK long-term trend chart]
A long-term downtrend had started on December 27, 2021 at 108.93 and reached 86.28 on October 13, 2022. JNK lost 22.65 points, or 20.79%, in 41 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (86.74) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
Medium-term trend: [See JNK medium-term trend chart]
A medium-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 chart has formed a Falling Wedge chart pattern. The uptrend resistance line (86.74) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 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. 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. The trend support level is at 91.94 and resistance is at 93.86. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See JNK daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is below its signal line since March 28, 2024. This is an indication that the short-term trend is down.
A Parabolic SAR (stop and reversal) indicator (93.34) comes close to the price (93.00). It indicates that the trend is getting weaker. 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.
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