$IWC Micro Cap Analysis

Here's my take on the IWC Microcap ETF. The micro cap ETF is bouncing off the bottom end of a regression channel, however a warning signal is that it's still below an area of resistance. You can see that on that area it used to be a prior support but it has since been broken. As you know prior support becomes resistance once the level is broken so although it is good progress that we are bouncing off of the bottom end of the regression channel I wouldn't get too carried away as it's still below an area of resistance. Also its good to note that the pervious bounces off the bottom end of the regression channel were also in confluence with that same area of support.

IWC