The Telecom iShares (IYZ) is finding support from the rising 200-day moving average and hitting resistance at the 50-day moving average. A move above the March highs would break the 50-day and keep the longer term uptrend alive. Notice that MACD is improving as it inches into positive territory.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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