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- 4/5/2024 -
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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 dropped -1.29 points, or -1.36%, and closed at 93.91 on Friday, April 5, 2024. Weekly volume was -40% 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 (86.83) 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 (86.83) 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.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 93.81 on April 3, 2024. JNK lost 1.63 points, or 1.71%, in 13 days. The price is now at the 6.13% retracement level.
 Daily Technical Indicators: [See JNK daily technical indicators chart]
Daily Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Williams' Percentage Range or strongly oversold daily 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.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.
The price touches the lower Bollinger Band. 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.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support 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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