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BKHY
ETF ticker: NYSE ARCA
AS OF
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Net Assets
62.37M

BKHY BNY Mellon High Yield Beta ETF Forecast, Technical & Fundamental Analysis

Category HighYieldBond
Technical Analysis# Of IndicatorsAvg. Odds
   
   
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A.I.Advisor
a Summary for BKHY with price predictions
07:00 PM EST Nov 30, 2023

BKHY's MACD Histogram just turned positive

The Moving Average Convergence Divergence (MACD) for BKHY turned positive on October 26, 2023. Looking at past instances where BKHY's MACD turned positive, the stock continued to rise in of 28 cases over the following month. The odds of a continued upward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on October 31, 2023. You may want to consider a long position or call options on BKHY as a result. In of 59 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

BKHY moved above its 50-day moving average on November 02, 2023 date and that indicates a change from a downward trend to an upward trend.

The 10-day moving average for BKHY crossed bullishly above the 50-day moving average on November 08, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 9 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BKHY advanced for three days, in of 239 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 223 cases where BKHY Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 4 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 5 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where BKHY declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

BKHY broke above its upper Bollinger Band on December 01, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)

Fear & Greed
A.I.Advisor
published Highlights

Industry description

The investment seeks to track the performance of the Bloomberg US Corporate High Yield Total Return Index. The fund uses a rules-based, systematic investment strategy that seeks to track an index designed to measure the performance of the high yield bond market. To pursue its goal, the fund normally invests substantially all, but at least 80%, of its assets in bonds comprising the Bloomberg US Corporate High Yield Total Return Index. The Bloomberg US Corporate High Yield Total Return Index is designed to measure the U.S. dollar-denominated, high yield (junk), fixed-rate, taxable corporate bond market. It is non-diversified.
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A.I. Advisor
published General Information

General Information

Category HighYieldBond

Profile
Fundamentals
Details
Category
High Yield Bond
Address
BNY Mellon ETF Trust
Phone
N/A
Web
N/A
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BKHY and

Correlation & Price change

A.I.dvisor indicates that over the last year, BKHY has been closely correlated with HYG. These tickers have moved in lockstep 69% of the time. This A.I.-generated data suggests there is a high statistical probability that if BKHY jumps, then HYG could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To BKHY
1D Price
Change %
BKHY100%
+0.86%
HYG - BKHY
69%
Closely correlated
+0.83%
JNK - BKHY
68%
Closely correlated
+0.84%
USHY - BKHY
67%
Closely correlated
+0.83%
SJNK - BKHY
66%
Loosely correlated
+0.72%
SHYG - BKHY
66%
Loosely correlated
+0.58%
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