IJS runs into sellers again around 134.26
iShares S&P Small-Cap 600 Value ETF (IJS) Technical Analysis Report for Aug 14, 2020 | by Techniquant Editorial Team
IJS finished the week 1.58% higher at 133.42 after gaining $0.64 (0.48%) today on low volume. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range.
Daily Candlestick Chart (IJS as at Aug 14, 2020):
Friday's trading range has been $2.77 (2.1%), that's above the last trading month's daily average range of $2.34. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for IJS.
After having been unable to move above 134.30 in the prior session, the market ran into sellers again around the same price level today, failing to move higher than 134.26. The last time this happened on August 6th, IJS actually gained 2.40% on the following trading day.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Trading close to June's high at 138.79 we might see further upside momentum if potential buy stops at the level get triggered.