IShares Dow Jones U.S. Telecommunications Sector Index Fund (IYZ) : Short Sell @ $23.95

Trading Central
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UNDER PRESSURE

From a technical view, the ETF has validated a rising wedge pattern which argues for a drop.



Regarding technical indicators, the daily RSI is reversing down from a key declining trend line while both the 20-day and the 50-day moving average are turning down increasing downward momentum.



On a relative basis against the IVV S&P500, the iShares Dow Jones U.S. Telecommunications Sector Index Fund is trading within a bearish channel and looks set for a new down leg.



Trading strategy:

Short Sell @ $23.95 – Stop loss @ $24.60 – Target @ $22.60

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