SCTR Surges for the Networking iShares

Arthur Hill
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com

The Networking iShares (IGN) is making a move over the last few weeks and the StockCharts Technical Rank (SCTR) surged above 50 this week. The chart shows IGN with a big triangle forming since March. A break above triangle resistance would signal a continuation of the prior advance, which was from 29.5 to 36. The indicator window shows the StockCharts Technical Rank (SCTR) breaking above 50 for the first time since early July. You can read more about  SCTRs in our ChartSchool.


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Arthur Hill
About The Author:

Arthur is the Chief Technical Strategist at TrendInvestorPro. Focused primarily on US equities and ETFs, his systematic approach of identifying trend, finding signals within and setting key price levels has made him an industry-leading technician. Learn More 

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