MYHE:NASDAQState Street My2031 High Yield Corporate Bond ETF analysis

State Street My2031 High Yield Corporate Bond ETF is priced at $23.99 and its moving averages line up in bearish order, the shorter trailing the longer. Across the trailing 30 sessions it lost 4.2%. Relative strength is 22.1 — oversold — and the MACD signal is bearish. Price has been bracketed by support at $23.99 and resistance at $24.69.
The 0.39% expense ratio is competitive for its category, and the fund manages $6.2M in assets.
Risk scores 3 out of 10, which is low for this asset class. With 30-day volatility of 4.7% and a beta of 0.25, the drawdown profile is forgiving relative to most of the market. Thin trading volumes mean execution costs can be material on larger orders. The wider market backdrop reads extreme greed at 93 on the fear-greed composite.
Near-term and long-term part ways here — sell short-term against hold longer out, with 4/10 conviction on the long call.