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John Hancock Preferred Income Fund II (HPF) Breaks Through Resistance at $18.13

Written on Fri, 04/30/2010 - 11:03am
By Chip Brian

SmarTrend has detected shares of John Hancock Preferred Income Fund II (NYSE:HPF) have bullishly opened above the pivot of $18.06 today and have reached the first resistance level of $18.13.
We are watching for a cross of the next upside pivot targets of $18.19 and $18.32. Also, the shares are currently trading above the 50-day moving average of $17.92 and above the 200-day moving average of $16.68.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to buy shares of John Hancock Preferred Income Fund II on December 22, 2009 at $16.64. Since the call, the stock has risen 9.1%.

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