The selling in the small-cap sector of the stock market may be about to pause or at least halt. After a nasty move lower the iShares Russell 2000 ETF (ARCA: IWM) has reached a level that has been resistance in the past. Sometimes, levels that had been resistance can convert into support.
Shares of the iShares Russell 2000 ETF (NYSE: IWM) have been in a steady downtrend. This ETF tracks small cap stocks. If it drops to the $171 level, there’s a chance the sell-off ends and the market reverses.
Shares of Amazon.com, Inc. (NASDAQ: AMZN) Friday lost close to 3% to settle at $2,887.00. Last month, the Board of Directors of the company approved a 20-for-1 split in June.
After another year of strong market performance, small-cap stocks aren't exactly cheap. Yet according to Bank of America analyst Jill Carey Hall, small caps are cheaper relative to large caps than they have been in more than two decades.
For almost a year, shares of the iShares Russell 2000 ETF (NYSE: IWM) have been in a narrow trading range, but that may have changed. IWM has broken out of the range and may be poised to trade higher.
Data from https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment
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