IWM - Ascending Triangle Pattern
IWM has been flip-flopping within an Ascending Triangle Pattern for the past 1 year+. It is no wonder that many of the smaller stocks are exhibiting wild flip-flops in the past months.
On a more optimistic note, an ascending triangle pattern has greater odds of breaking to the upside eventually. For IWM, this means a breakup above 198-199 could happen eventually (not guaranteed but good odds).
Until this happens, we might continue to see a very mixed/weak market especially for the smaller-cap stocks. Meanwhile stock picking skills with good money management is tantamont to traverse this market
If and when a breakup happens in IWM, it is likely the market bulls will be back in force.
Meanwhile, can only wait and see what happens.
Disclaimer:
TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is NOT a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is (probably the most) important! Take care and Good Luck!
On a more optimistic note, an ascending triangle pattern has greater odds of breaking to the upside eventually. For IWM, this means a breakup above 198-199 could happen eventually (not guaranteed but good odds).
Until this happens, we might continue to see a very mixed/weak market especially for the smaller-cap stocks. Meanwhile stock picking skills with good money management is tantamont to traverse this market
If and when a breakup happens in IWM, it is likely the market bulls will be back in force.
Meanwhile, can only wait and see what happens.
Disclaimer:
TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is NOT a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is (probably the most) important! Take care and Good Luck!
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