The Networking iShares (IGN) declined sharply in late September, but managed to hold above its prior low and keep the rising channel in place. With a big surge on Friday, the
Elder Impulse bar turned green to signal an upturn in momentum. Also notice that the StockCharts Technical Rank (SCTR) is going for a range breakout.
Click this image for a live chart
Click this image for a live chart
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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