Since a big collapse in early February as oil prices were making their 2016 lows, the preferred stock ETF — PGX — has made a nice run higher within a relatively tight uptrend channel.  As shown below, the ETF has recently pulled back to its 50-day moving average, which is also the bottom of its tight uptrend channel.  Technical longs will be looking for prices to hold and then bounce from here.

PGX

 

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