Volatility Contraction Sets Up IBB Move Near $170.79
NeutralIBB (IBB) closed down 0.73% at $170.79 on December 29.
Technical indicators paint a bearish picture:
Moving Averages
Mixed signals with price near the 9-day EMA ($170.94). The 21-day EMA sits at $169.44.
Momentum
RSI at 55.8 is in neutral territory but trending lower. MACD is bearish (1.79 vs signal 1.97).
Volatility
Stock has been in a TTM Squeeze for 8 days, indicating compressed volatility and potential for a significant move.
Key levels to watch: Support at $166.32, Resistance at $173.96.