IYT shares broke the uptrend line from the March 2020 lows just a few weeks ago, with the ADX line falling off a cliff and confirming the move.
With the RSI below 50 and the stock trading below the 50sma it's not looking good short and intermediate term for the transports and therefor the rest of the market. Watch closely.
All indicators are bullish from here.
MJWL is a penny stock that went from a 100X advance to a big correction quickly. It may have finally found support at .08 where it had previous resistance/support, we also have the RSI down trend line was just broken, although it's still in bearish territory.
The downtrend line on the stock has still not been broken, all other indicators in bearish mode.
We could be in the early stages of a bounce off of support, but we have to wait and see if it's a long term trend change.
