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- 5/3/2024 -
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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 second positive week after 3 consecutive negative weeks for the SPDR Bloomberg Barclays High Yield Bond ETF (JNK). During the week, the JNK climbed 0.52 points, or 0.55%, and closed at 94.25 on Friday, May 3, 2024. Weekly volume was 9% above 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 14.39% 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. The price is now at the 57.05% retracement 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. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See JNK daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. Daily Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is above its signal line since April 23, 2024.
During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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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