SJNK pushes through Monday's high


SPDR Bloomberg Barclays Short Term High Yield Bond (SJNK) Technical Analysis Report for Jun 30, 2020 | by Techniquant Editorial Team

Highlights

SJNK pushes through Monday's high

Overview

SJNK finished the month 0.36% higher at 25.20 after gaining $0.24 (0.96%) today. Closing above Monday's high at 25.18, SPDR Bloomberg confirmed its breakout through the prior session high after trading up to $0.06 above it intraday.

Daily Candlestick Chart (SJNK as at Jun 30, 2020):

Daily technical analysis candlestick chart for SPDR Bloomberg Barclays Short Term High Yield Bond (SJNK) as at Jun 30, 2020

Tuesday's trading range has been $0.16 (0.64%), that's slightly below the last trading month's daily average range of $0.19. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for SJNK.

One bullish candlestick pattern matches today's price action, the White Candle.

Crossing above the lower Bollinger Band, prices have lost at least some of their downward momentum in the short-term and might now be heading back up towards the mean of the Bollinger Bands at 25.42. The last time this happened on March 23rd, SJNK gained 2.91% on the following trading day.

The market shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend still being bullish.

Among the three market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "Close crossed above the lower Bollinger Band" stand out. Its common bullish interpretation has been confirmed for SPDR Bloomberg. Out of 72 times, SJNK closed higher 52.78% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after four trading days, showing a win rate of 59.72% with an average market move of -0.03%.


Market Conditions for SJNK as at Jun 30, 2020

Loading Market Conditions for SJNK (SPDR Bloomberg Barclays Short Term High Yield Bond)...
Latest Report:

SJNK stuck within tight trading range

Jul 08, 2020
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when SPDR Bloomberg Barclays Short Term High Yield Bond traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!