IWP - the Mid-Cap Growth - resists correction
Following the wider market correction, IWP – iShares Russell Mid-Cap Growth ETF - dropped below its 20-day exponential moving average after four consecutive bearish days.
Of course MACD is also in negative regime, below its signal line, and IWP’s Relative Strength has dropped below its 20-day exponential moving average.
We will follow IWP’s behavior in the next sessions, especially as it approaches the lower Bollinger Band, its 50-day exponential moving average and the blue support line.
Of course much will depend on the general market climate, as this will dictate more or less the movement of most Indices.