IWM Reaches Megaphone Top

Published 03/08/2016, 12:30 AM
Updated 07/09/2023, 06:31 AM
IWM
-

IWM Chart

iShares Russell 2000 (NYSE:IWM) has Reached the Top of its Confirmed Blue Megaphone – Next Target will be the Megaphone Bottom

IWM has reached the top of its confirmed blue megaphone. This is the end of a 5th wave melt-up, which means IWM will next be a favorite to return to the megaphone bottom.

IWM Chart

IWM Reached the Blue Megaphone Top within a Price Channel that is Topping with a Rising Megaphone

IWM reached the blue megaphone top within a price channel that is topping with a rising megaphone. The little rising megaphone would usually complete with a head and shoulders. That would usually look like a head and shoulders formation sitting on the blue megaphone top.

The set-up is to short the breakout from that H&S all the way to the blue megaphone bottom.

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.