Don't Ignore This Chart!

SCTR Surges for the Networking iShares


The Networking iShares (IGN) is making a move over the last few weeks and the StockCharts Technical Rank (SCTR) surged above 50 this week. The chart shows IGN with a big triangle forming since March. A break above triangle resistance would signal a continuation of the prior advance, which was from 29.5 to 36. The indicator window shows the StockCharts Technical Rank (SCTR) breaking above 50 for the first time since early July. You can read more about  SCTRs in our ChartSchool

Click this image for a live page

Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at 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. Learn More
Subscribe to Don't Ignore This Chart! to be notified whenever a new post is added to this blog!
comments powered by Disqus