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The Networking ETF (IGN) is main the market with a strong uptrend and a brand new excessive this week. Diving into the group, I discovered a inventory that not too long ago broke out and shaped a short-term bullish continuation sample. The inventory can also be in an uptrend and I count on a breakout to new highs within the coming weeks.
The primary chart exhibits IGN with the Development Composite Indicator within the decrease window. This indicator aggregates development alerts from 5 totally different trend-following indicators. The Development Composite turned bullish in mid November 2020 and all 5 indicators at present sign uptrend. On the value chart, IGN broke out in early November 2020, fell again to the breakout zone and broke out of a falling flag in early December.
F5 Networks (FFIV) additionally sports activities an uptrend and a current breakout. The Development Composite obtained a whipsaw in July and has been bullish since late July. On the value chart, the inventory broke out of an extended consolidation in early November (purple zone) after which stalled with a pennant (small triangle). This can be a short-term bullish continuation sample and a breakout would sign a continuation of the larger uptrend.
within the Development Composite? That is considered one of 11 indicators accessible as a part of the TrendInvestorPro indicator edge plugin for StockCharts ACP. The display screen shot under exhibits these indicators on the left and the plugin particulars on the precise.
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Thanks for tuning in and finest needs for the vacation season!
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Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic strategy of figuring out development, discovering alerts inside the development, and setting key worth ranges has made him an esteemed market technician. Arthur has written articles for quite a few monetary publications together with Barrons and Shares & Commodities Journal. Along with his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Enterprise College at Metropolis College in London.
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