Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

IWM: Big Move Ahead

Published 11/16/2017, 08:45 PM
Updated 07/09/2023, 06:31 AM

We saw a pretty strong reversal day today with a gap-up and the follow through confirming the 65-min. bullish divergence (which I've talked about on my mid-week update video below).

That 145ish-level definitely was a strong level of a support with that rising pivot (dotted blue) and the horizontal pivot (red box) colliding in that vicinity.

So, now that we have a strong bounce, let's see if we can able to see a continuation to the upside to get this minor-term momentum to continue.

Currently, iShares Russell 2000 (NYSE:IWM) is trading above the fast moving averages so sentiment is shifting bullish in the minor term, we just need to see if we see a continuation.

If it reveres back down sharply in the next few days, we would want to see buyers protecting 144-145 level.Daily iShares Russell 2000 ETF

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.