SHYG iShares 0-5 Year High Yield Corp Bd ETF Forecast, Technical & Fundamental Analysis
SHYG in upward trend: price rose above 50-day moving average on November 01, 2023
SHYG moved above its 50-day moving average on November 01, 2023 date and that indicates a change from a downward trend to an upward trend. In of 41 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are .
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 SHYG as a result. In of 90 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The 10-day moving average for SHYG crossed bullishly above the 50-day moving average on November 07, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 12 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 SHYG advanced for three days, in of 332 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 356 cases where SHYG 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 11 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 22 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
SHYG 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)
Industry description
General Information
Category HighYieldBond
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SHYG and
Correlation & Price change
A.I.dvisor indicates that over the last year, SHYG has been closely correlated with SJNK. These tickers have moved in lockstep 99% of the time. This A.I.-generated data suggests there is a high statistical probability that if SHYG jumps, then SJNK could also see price increases.
| Ticker / NAME | Correlation To SHYG | 1D Price Change % | ||
|---|---|---|---|---|
| SHYG | 100% | -0.02% | ||
| SJNK - SHYG | 99% Closely correlated | N/A | ||
| USHY - SHYG | 99% Closely correlated | +0.04% | ||
| JNK - SHYG | 98% Closely correlated | -0.04% | ||
| HYG - SHYG | 98% Closely correlated | +0.01% | ||
| HYLB - SHYG | 98% Closely correlated | +0.03% | ||
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