PIMCO High Income Fund (NYSE:PHK)

Q: Hi. Thanks for report. Do you recommend PHK? A: We do not make specific recommendations as only financial advisors can determine if a security is appropriate for your risk profile.  We do, however, provide technical analysis and forecasts on over 5000 securities, including PKH and we issued an Uptrend alert on PHK to our subscribers on 3/18 at $5.22.  So it has been in an Uptrend for quite some time and typically, the longer the trend, the increased likelihood of a reversal.  You can see that PHK has topped several times at the $9.40 level (2/11, 6/5, 7/7) and so with that kind of resistance you should wait until a break out.  Also, PHK recently broke down below its 50-day moving average of $8.46 and even though it tried to regain it yesterday, some more work needs to be done.  PHK has risk to the $6.60 level where it has some support at the 200-day average and would be roughy a 50% retrace of the gains made from March to June.