The bull phase is showing today on Person's Proprietary Signal (pps) and three days ago on the fast stochastic. The parabolic sar and macd remain in bear phase, although the macd for the third trading day is rising toward the zero-line.
JNK is trading below the 20-day simple moving average, and today's rise is coming on lower volume than anytime since early August.
Above all JNK is a dividend play, yielding 9.64% annually (paid monthly) without exposure to foreign exchange risk.
JNK is moved mainly by expectations about corporate default rates. So a rising JNK suggests confidence in the business recovery.
On the Person's chart, JNK is trading midway between the midline and the upper weekly pivot.
|pps||pps open||upper pivot||lower pivot|
|JNK $39.13||$39.08 aug18||$39.31 +0.5%||$38.40 -1.9%|
JNK has room to move in either direction before encountering severe resistance.
- $39.59, +1.2% (swing high)
- $39.44, +0.8%
- $39.18, +0.1% (20-day moving average)
- $39.13 <== You are here.
- $38.55, -1.5% (swing low)
Tim Bovee, Private Trader tracks the trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment. No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.Abbreviations:
- psar - Parabolic Stop and Reverse
- adx - Average Directional Index
- pps - Person's Proprietary Signal
- ma20 - 20-day moving average
- macd - Moving Average Convergence-Divergence
- sto - Fast Stochastic
- trend: Determined by the 5-day moving average, green for up, red for down, yellow for sideways
- adx: orange for above 30-up, blue for 20-down, purple for in the middle. Red is most prone to whipsaws
- psar, pps, macd: green for bull mode, red for bear
- sto: green for overbought, red for oversold, yellow for the neutral zone.
- sto zone: green for bull phase, red for bear phase.