Small cap companies are usually the first to feel the pain on the ground. As some put it, they are like the troops in the front lines, the S&P500 like the officers who stay behind the lines, and the DJIA like the Generals who sit way back.
The IWM has been hovering sideways for since March 2014, forming a triple top pattern. In my opinion, now would be a good time to SHORT the IWM ETF, as:
1. Price was rejected off both the up-sloping blue dotted trendline resistance AND the down-sloping red trendline
2. RSI also showing weakness not being able to hit the channel ceiling
3. Risk-reward of this trade is decent
Entry: 118.5
SL: 121.5
Profit Target: 107.5
The IWM has been hovering sideways for since March 2014, forming a triple top pattern. In my opinion, now would be a good time to SHORT the IWM ETF, as:
1. Price was rejected off both the up-sloping blue dotted trendline resistance AND the down-sloping red trendline
2. RSI also showing weakness not being able to hit the channel ceiling
3. Risk-reward of this trade is decent
Entry: 118.5
SL: 121.5
Profit Target: 107.5
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.