CosmicDust

ITB monthly - facing double resistance - 8/19/2015

AMEX:ITB   ISHARES TRUST U.S. HOME CONSTRUCTION ETF
ITB
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ITB has been off my radar for quite some time and recent strength caught my attention (hopefully not too late). On the month, it run into double resistance and we will see how it will close its book at month end.

Note that RSI is working on a breakout, and MACD is positive. Both RSI and MACD are still diverging from price.

If RSI and MACD are not weakening into month end, and price can break out its double resistance, I think it can be a candidate for long term holding. From current level to 2007 peak, it still has 40% room.
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