Transports Look Vulnerable To A Large Decline (IYT)

Share This Article
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.

9 "Must Own" Growth Stocks For 2019

Read Next

Get Free Updates

Join over 50,000 investors who get the latest news from!

Most Popular

Explore More from

Free Daily Newsletter

Get daily ETF insights from our market experts. Never miss another important market development again! respects your privacy.

Best ETFs

We've rated and ranked nearly 2,000 ETFs and ETNs using our proprietary SMART Grade system.

View Top Rated ETFs

Best Categories

We've ranked dozens of ETF categories based on relative performance.

Best ETF Categories