For investors seeking momentum, Amplify Online Retail ETF (IBUY Quick QuoteIBUY - Free Report) is probably on radar now. The fund just hit a 52-week high, which is up roughly 55.4% from its 52-week low price of $34.52/share.

 

But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:

 

 

The fund offers exposure to a basket of companies with considerable revenue from online and virtual retail sales. The fund charges investors 65 basis points a year in fees and has top holdings Carvana, Tripadvisor and Wayfair (see all Consumer Discretionary ETFs here).

 

 

Though brick-and-mortar retailers have been steady in recent times, the underlying trend is shifting toward online. Sales from online and mail-order retail trade rose 1.3% in June compared with a 0.4% increase in May. Online sales represented the biggest gain since November 2017. All these have brightened the appeal for the online ETF IBUY.

 

 

The fund has a positive weighted alpha of 51.30. So, there is definitely still some promise for those who want to ride on this surging ETF a little longer.

 

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