Transportation Sector (IYT) testing important long-term support

Share This Article
November 6, 2018 11:57am NYSE:IYT

From Chris Kimble: A swift 30 point drop (nearly 15%) from mid-September through the end of October has the Transportation Sector (IYT) testing important long-term support. 

The Dow Jones Transports Sector (IYT) also represents an important slice of the domestic and global economy. So losing support here would not be good. Let’s look at the weekly chart of IYT.

A triple support test is in play for the Dow Transports at (1).

The long-term trend remains “up” but the price action could be concerning, due to the drop-off in long-term momentum. A lot is at stake here friends. Keep an eye on how this bonce performs and watch this important support zone!

The iShares Transportation Average ETF (IYT) was trading at $187.83 per share on Tuesday morning, up $1.32 (+0.71%). Year-to-date, IYT has declined -1.65%, versus a 3.23% rise in the benchmark S&P 500 index during the same period.

IYT currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #10 of 33 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