Spdr Bloomberg High Yield Bond $JNK Technical Data

March 18, 2023, 23:15 pmET, BY Quentin W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for JNK

• Buy JNK slightly over 88.98 target 92.63 stop loss @ 88.72 Details

The technical summary data tells us to buy JNK near 88.98 with an upside target of 92.63. This data also tells us to set a stop loss @ 88.72 to protect against excessive loss in case the stock begins to move against the trade. 88.98 is the first level of support below 89.91 , and by rule, any test of support is a buy signal. In this case, support 88.98 is being tested, a buy signal would exist.

• Short JNK slightly under 92.63, target 88.98, stop loss @ 92.9 Details

The technical summary data is suggesting a short of JNK as it gets near 92.63 with a downside target of 88.98. We should have a stop loss in place at 92.9though. 92.63 is the first level of resistance above 89.91, and by rule, any test of resistance is a short signal. In this case, if resistance 92.63 is being tested, a short signal would exist.

Swing Trading Plans for JNK

• Buy JNK slightly over 90.35, target 92.63, Stop Loss @ 90.09 Details

If 90.35 begins to break higher, the technical summary data tells us to buy JNK just slightly over 90.35, with an upside target of 92.63. The data also tells us to set a stop loss @ 90.09 in case the stock turns against the trade. 90.35 is the first level of resistance above 89.91, and by rule, any break above resistance is a buy signal. In this case, 90.35, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short JNK slightly near 90.35, target 89.12, Stop Loss @ 90.61. Details

The technical summary data is suggesting a short of JNK if it tests 90.35 with a downside target of 89.12. We should have a stop loss in place at 90.61 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 90.35, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for JNK

• Buy JNK slightly over 90.35, target 92.63, Stop Loss @ 90.14 Details

If 90.35 begins to break higher, the technical summary data tells us to buy JNK just slightly over 90.35, with an upside target of 92.63. The data also tells us to set a stop loss @ 90.14 in case the stock turns against the trade. 90.35 is the first level of resistance above 89.91, and by rule, any break above resistance is a buy signal. In this case, 90.35, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short JNK slightly near 90.35, target 89.66, Stop Loss @ 90.56. Details

The technical summary data is suggesting a short of JNK if it tests 90.35 with a downside target of 89.66. We should have a stop loss in place at 90.56 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 90.35, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

JNK Ratings for March 18:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Weak
P1	0	0	85.06
P2	89.66	89.12	88.98
P3	90.35	90.35	92.63

Chart of JNK with Longer Term Pivots

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This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Spdr Bloomberg High Yield Bond (NYSE: JNK) while incorporating prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for JNK change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if JNK is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for JNK too.  All of these are offered below the Summary Table.