If markets broadly sell off again, IWM can fill the gap down in the yellow band. In general, the longer price stays rangebound, the greater the move when that range breaks.
Note
Price at 202 is a good put entry, even better at daily 20sma closer to 203. Set stops and exit if price goes over 204. Price could rise with markets up to 210.Note
Price failed at 209-210 resistance and even more importantly, it closed below 202 for the week. Keep an eye of this for a swing trade down to the 200sma and maybe into the gap.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.