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Zacks' Voice of the People highlights opportunities with iShares Dow Jones Transport ETF, FedEx and United Parcel Service
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For Immediate Release
Chicago, IL – March 31, 2011 – Zacks highlights commentary from People and Picks Trader “inthemoneystocks”.
For more Voice of the People, visit http://at.zacks.com/?id=7872
Featured Post
Transports Test Major Level
March 31, 2011 - RELATED TICKERS: iShares Dow Jones Transport ETF (IYT), FedEx Corp. (FDX - Analyst Report) and United Parcel Service Inc. (UPS - Analyst Report).
The iShares Dow Jones Transport ETF (IYT) has rallied sharply higher from its March 15, 2011 pivot low at $88.90 a share. This morning the IYT is trading higher by 0.59 cents to $95.72 a share.
The IYT has rallied higher by nearly $7.00 in just 12 trading sessions. At this time the IYT is trading around its recent double top area from February 18, 2010 which was $96.30. Therefore, this area should be of some resistance in the near term. The IYT is also getting a bit extended on the daily chart at this time.
Recently, the transports have climbed higher with the major stock indexes and this is a sign of economic strength in the near term. However, until the IYT clears the double top area at $96.30 traders must not assume that the transports will break out just yet.
Other leading transport stocks that are trading higher this morning are FedEx Corp. (FDX - Analyst Report) and United Parcel Service Inc. (UPS - Analyst Report). Should the IYT begin to pullback it would be prudent to expect these transport leaders to pullback as well.
Chicago, IL – March 31, 2011 – Zacks highlights commentary from People and Picks Trader “inthemoneystocks”.
For more Voice of the People, visit http://at.zacks.com/?id=7872
Featured Post
Transports Test Major Level
March 31, 2011 - RELATED TICKERS: iShares Dow Jones Transport ETF (IYT), FedEx Corp. (FDX - Analyst Report) and United Parcel Service Inc. (UPS - Analyst Report).
The iShares Dow Jones Transport ETF (IYT) has rallied sharply higher from its March 15, 2011 pivot low at $88.90 a share. This morning the IYT is trading higher by 0.59 cents to $95.72 a share.
The IYT has rallied higher by nearly $7.00 in just 12 trading sessions. At this time the IYT is trading around its recent double top area from February 18, 2010 which was $96.30. Therefore, this area should be of some resistance in the near term. The IYT is also getting a bit extended on the daily chart at this time.
Recently, the transports have climbed higher with the major stock indexes and this is a sign of economic strength in the near term. However, until the IYT clears the double top area at $96.30 traders must not assume that the transports will break out just yet.
Other leading transport stocks that are trading higher this morning are FedEx Corp. (FDX - Analyst Report) and United Parcel Service Inc. (UPS - Analyst Report). Should the IYT begin to pullback it would be prudent to expect these transport leaders to pullback as well.
About the Zacks Community
In 2008, Zacks Investment Research launched PeopleAndPicks.com, a stock-picking website where members of the Zacks community can test their strategies and share ideas with other members. Each user is scored on the accuracy of his or her picks, and top users are rewarded with free products from Zacks. Registration is free. To learn more about People And Picks, visit http://at.zacks.com/?id=7870
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Contact: Brent Billock
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Read the full analyst report on IYT
Read the full analyst report on FDX
Read the full analyst report on UPS
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