The 2-pack above highlights that IWM & IWC both appear to be creating bullish ascending triangle patterns and both are breaking above highs hit a couple of months ago at each (1). These breakouts have both of them hitting all-time highs.
Joe Friday Just The Facts: Measured moves suggest each could rally up to the prices zone at each (2), which is around 8% above current prices.
The iShares Russell 2000 Index ETF (IWM) closed at $161.87 on Friday, up $0.21 (+0.13%). Year-to-date, IWM has gained 6.17%, versus a 1.68% rise in the benchmark S&P 500 index during the same period.
This article is brought to you courtesy of Kimble Charting Solutions.