ISHARES EXPANDED TECH SECTOR (IGM) Stock Technical Analysis
NYSEARCA:IGM - NYSE Arca - US4642875490 - ETF - Currency: USD
Taking everything into account, IGM scores 8 out of 10 in our technical rating. Although IGM is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
The long and short term trends are both positive. This is looking good!
IGM is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so IGM is leading the market.
In the last month IGM has a been trading in the 100.00 - 107.97 range, which is quite wide. It is currently trading near the high of this range.
When comparing the yearly performance of all stocks, we notice that IGM is one of the better performing stocks in the market, outperforming 79% of all stocks. However, this relatively good performance is mostly due to a recent big move.
Besides having an excellent technical rating, IGM also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 106.85. Right above this resistance zone may be a good entry point.
More info and screens
79.22
109.54
When analyzing the support we can see 3 important areas.
- A support zone ranging from 100.46 to 100.72. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @83.41 from a trend line in the weekly time frame.
- Support @80.02 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 106.85 to 108.46. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for IGM is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for IGM is up. |
| ChartMill Relative Strength | 79.41 | POSITIVE | IGM has a high relative strength, it outperformed 79.41% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of IGM is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of IGM is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of IGM is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 60.42 | NEUTRAL | The RSI value for IGM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.31 | NEGATIVE | The MACD value suggests IGM has a negative trend. |
| Stochastics (14,3) | 80.61 | OVERBOUGHT | The high Stochastics value suggests IGM may be overbought. |
| Average True Range in percent/ATR (20) | 1.43 | LOW VOLATILITY | The low ATR as a percentage value for IGM suggests low volalility. |
| Average Directional Index/ADX (14) | 26.85 | POSITIVE | The high ADX value value for IGM suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 106.86 | 105.75 | 1.11 (1.04%) | 25.00% |
| An entry @106.86. This is a Buy Stop order right above the 10 day moving average. | An exit @105.75. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 1.11 points, which is 1.04%. | For a 0.26% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of IGM. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
106.11
-0.87 (-0.81%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-0.81%
1 Week-1.25%
2 Weeks0.87%
1 Month4.46%
3 Month12.23%
6 Month2.54%
12 Month12.79%
2 Year62.05%
3 Year116.26%
5 Year128.08%
10 Year514.54%
15 Year1216.77%
Volatility
ATR(14)1.39
ATR(20)%1.43%
ATR Inc9.26%
Range Today1.97
ADR(20)1.34
ADR(20)%1.26%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS79.41
Mansfield0.5
10 Day High107.97
10 Day Low105.76
20 Day High107.97
20 Day Low100
52 Week High108.73
52 Week Low76.26
CS1 End100.72
CR1 Start106.85
Volume & EV
DER(3)-2.23%
DER(5)0.26%
Volume312.90K
Volume Incr9.96%
Vol(5)499.52K
Vol(50)527.47K