Transports Look Vulnerable To A Large Decline (IYT)

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May 6, 2018 7:15am NYSE:IYT

transportation stocks

Technical analyst Chris Kimble takes a close look at the all-important transports and finds a potential major breakdown in the works.


This chart looks at the Dow Jones Transportation Index over the past 25-years on a monthly basis.

The trend for Transports is up and nothing of late has changed the long-term trend.

Transports are testing 3-year rising support at (1) with momentum at levels heights only seen three other times in the past quarter-century. When momentum was this high in the past, Transports struggled for a while going forward.

Joe Friday Just The Facts- Transports could see selling pressure increase if support breaks at (1)!

The iShares Transportation Average ETF (IYT) closed at $186.93 on Friday, up $2.16 (+1.17%). Year-to-date, IYT has declined -2.45%, versus a -0.31% rise in the benchmark S&P 500 index during the same period.

IYT currently has an ETF Daily News SMART Grade of B (Buy), and is ranked #26 of 34 ETFs in the Industrials Equities ETFs category.


This article is brought to you courtesy of Kimble Charting Solutions.


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