IWM: Candle Below 20DMA — Possible Reset Targeting $242
$iShares Russell 2000 ETF(IWM)$ : This is the third consecutive weekend that I post the pattern of a candle breaching the upper Bollinger band followed by a visit to the 20DMA.
The difference this time is the price still below the 20DMA, will it recover it?
A healthy reset breaching the series of higher lows carried by the 50DMA (or 40DMA to be precise) is possible next week, targeting $242 at least.
Stock chart for IWM on daily timeframe displays candlestick price action with green and red bars forming higher lows. Blue line represents 20-day moving average, orange line the 50-day moving average. Gray bands indicate Bollinger bands with price breaching upper band marked by red arrows. Green shaded volume bars at bottom. S/R watermark in white circle on chart. X-axis shows months from May to November, Y-axis price from 180 to 250.
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