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June 11, 2023
A quick look at Friday: a tough session dominated by bearish sentiment left LQD 28 cents lower, while setting a $106.58 to $106.92 session range.
Despite being in the red so far in the current trading session, iShares iBoxx $ Investment Grade Corporate Bond ETF peaked above its 3 day Simple Moving Average around $106.89 — typically an early indicator of a new bullish trend beginning to emerge. IShares iBoxx $ Investment Grade Corporate Bond ETF could begin to recover as it approaches significant support, now 17 cents away from $106.59. Dipping below could be an indication that further losses are ahead. In contrast, a Bearish Harami chart pattern, which is a means of predicting reversals in bull markets. When a Bearish Harami is detected at the top of a prevailing uptrend, it is typically considered a bearish signal and a prelude to a potential trend reversal.
Overall, looking at the technical analysis landscape, it seems iShares iBoxx $ Investment Grade Corporate Bond ETF might start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, ProLogis falls 2.88% Friday and closed at $124.91.
Positive performances can be seen by looking at other markets as Adobe went up by 3.41% Friday, and closed at $454. Tesla is trading around $244.4 after ending Friday's session at $234.86 (up 4.06% today).
Having set a significant low of $99.2 7 months ago, iShares iBoxx $ Investment Grade Corporate Bond ETF is trading 7.9% higher.
