IShares Dow Jones U.S. Technology Sector Index Fund (IYW) : Buy @ $72.41

Trading Central
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REBOUND IN SIGHT

From a technical view, the ETF is reversing up from a rising trend line drawn from the bottom of November 2012.



Regarding technical indicators, both the 20-day and the 50-day moving averages are turning up while the daily RSI is bouncing off its neutrality area. Furthermore, the daily MACD is going to push above its signal line.



On a relative basis against the IVV S&P500, the iShares Dow Jones U.S. Technology Sector Index Fund is reversing up from a key support area and looks set for a rebound.



Trading strategy:

Buy @ $72.41 – Stop loss @ $71.20 – Target @ $74.65

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