novvoll12
Short

IYT bearish – Potential to test August’s 128.26 low

AMEX:IYT   ISHARES TRANSPORTATION AVERAGEETF
IYT
6 0 0
iyt
IYT             139.46 bearish – Potential to test August’s 128.26 low

IYT             has been consolidating within the wide range between August’s 128.26 low (August 24, 2015) and the recovery high at 149.86 (September 14, 2015). Given the strong bearish momentum, there is potential to see a retest of the 128.26 low near 38.2% of the 70.82/167.80 (October 2011 low/November 2014 high) rise. Below lies the 200 week moving average currently at 123.69. The 142.72/146.97 resistance zone (July 6 low/September 21 high, 2015) which houses the 50 day moving average currently at 144.76 should cap bounces. Bulls must reclaim the area to stabilize the structure and improve the outlook for 149.86.

Outlook:
Daily: bearish
Weekly: neutral
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out