ITB – iShares US Home Construction ETF

DAILY CHART

Context Technical Analysis

Since late March, ITB is moving in a bullish channel – the green lines.

The price is currently trending above its rising 10- 20- and 50-day moving averages.

Finally, the price broke above the lower resistance line, the thick orange line and it’s about to move above the upper resistance line as well. .

Relative Strength

The Relative Strength of ITB is moving up and above its 20-day moving average.

WEEKLY CHART

Higher Time Frame

From ITB's weekly chart below, we can see:

· The ETF is moving up and above its 10- 20 and 50-week moving average

· ITB broke above the resistance line – the lower orange line

· From the Relative Strength chart, we can see that ITB outperforms.