Investors keeping an eye on the iShares Transportation Average ETF (IYT, Financial) should pay attention to its recently calculated pivot points. Using the DeMark method, analysts have identified a pivot high of $60.86 and a pivot low of $58.44 for IYT. These levels are critical indicators for market sentiment and potential price movements.
When the price of IYT surpasses the pivot high of $60.86, it may signal a bullish trend, indicating potential upward momentum. Conversely, if the price drops below the pivot low of $58.44, it could suggest a bearish outlook, indicating possible downward movement.
Traders often use these key levels to make informed decisions about entry and exit points. As these pivot points can provide valuable insights into the ETF's performance, keeping them in view can be essential for making strategic investment choices.
