IWM Flat-Bottomed Megaphone Across Critical Level

Published 06/28/2016, 12:23 AM
Updated 07/09/2023, 06:31 AM
IWM
-

IWM 2Y-D Chart

IWM has Formed a Flat-Bottomed Megaphone (Red) Across VWAP of the Big Pink Megaphone that Began Forming in Late 2013

iShares Russell 2000 (NYSE:IWM) has drawn a flat-bottomed megaphone (red) across VWAP of the big topping megaphone it’s been forming since late 2013.

If it can actually break out downwards from the flat-bottomed megaphone, it’s a favorite to break out downwards from the giant topping formation with a target of roughly 50-60.

If it fails to break out through the bottom of the flat-bottomed megaphone, or it puts in only a small fake breakout, it’s a favorite to at least retest the formation high. And an upwards breakout from the flat-bottomed megaphone would target the all-time high at roughly 130.

Original post

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.