Strong Small Cap Rally Could Add Another 10% Or More (IWM)

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May 15, 2018 6:11am NYSE:IWM

From Chris Kimble: Year to date, Micro (IWC) and Small Caps (IWM) are acting stronger than large caps.


The strength in IWC and IWM have both of them testing all-time highs this week, which could be the top of bullish ascending triangles at each (1).

Two-thirds of the time the ascending triangle pattern leads to higher prices.

If they break above line (1), the measured move suggests that each could rally around 10%. The measured move target for  IWC comes into play around the $112 level and for IWM the target comes into play around $178.

For Micro and Small caps to keep acting stronger than large caps, each needs to break above resistance at (1).


The iShares Russell 2000 Index ETF (IWM) fell $0.05 (-0.03%) in premarket trading Tuesday. Year-to-date, IWM has gained 4.44%, versus a 2.29% rise in the benchmark S&P 500 index during the same period.

IWM currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 41 ETFs in the Small Cap Blend ETFs category.


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


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