iShares iBoxx $ High Yield Corporate Bond Crosses Below its 10-day MA (HYG)
Today, shares of iShares iBoxx $ High Yield Corporate Bond (AMEX:HYG) have crossed bearishly below their 10-day moving average of $82.90 on a volume of 5.6 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, iShares iBoxx $ High Yield Corporate Bond share prices have been bracketed by a low of $75.09 and a high of $91.08 and are now at $82.64, 10% above that low price. The 200-day and 50-day moving averages have moved 0.13% lower and 0.47% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of iShares iBoxx $ High Yield Corporate Bond on February 25th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $78.40. Since that recommendation, shares of iShares iBoxx $ High Yield Corporate Bond have risen 6.0%. We continue to monitor HYG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses amex:hyg ishares iboxx $ high yield corporate bond