Is The Mega-Cap Run Over? Mid-Cap Stocks Look To Extend Gains And Stock Market Cycles
Portfolio Pulse from Melanie Schaffer
The iShares Russell 2000 ETF (NYSE:IWM) is consolidating after a strong month, with investors potentially moving money from mega-cap to mid-tier stocks. The ETF is forming an inside bar pattern on the daily chart, indicating a period of consolidation and a possible continuation move in the current trend.
June 08, 2023 | 9:03 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
iShares Russell 2000 ETF (NYSE:IWM) is consolidating after a strong month, forming an inside bar pattern on the daily chart. This pattern indicates a period of consolidation and a possible continuation move in the current trend.
The inside bar pattern on the daily chart indicates a period of consolidation for IWM. This pattern usually precedes a continuation move in the direction of the current trend. However, the future direction of the ETF will depend on whether it breaks up or down from the mother bar on higher-than-average volume. As a result, the short-term impact on IWM's stock price is neutral.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100