Small cap stocks have been moving higher in recent weeks and could end the final weeks of the year with a rally, according to Bruce Kamich, TheStreet's in-house technical analyst and Real Money contributor. Kamich noted that the iShares Russell 2000 ETF (IWM) has broken above its early November peak, and the charts now support a rally back to its June high. Kamich expects a breakout over the 200 moving day average soon. He also sees a positive trend in the Moving Average Convergence Divergence oscillator, which is currently above the zero line. Kamich has a price target of $128, and on the downside, a trade at $106 would be a new low and a bearish signal.
Stocks in this video: IWM
Source: http://www.thestreet.com/video/13381303/small-caps-poised-for-a-year-end-rally-says-technician-bruce-kamich.html
No comments:
Post a Comment