The iShares Telecom ETF (IYZ) is challenging neckline resistance of an inverse head-and-shoulders pattern. The head-and-shoulders represents a big consolidation and the break to new highs is positive. However, declining volume on the Aug-Sep advance is a concern.
Click this chart for details.
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.
Learn More
