Coronavirus in 1 chartOnline retail names (Overstock, Ebay, Etsy, Shopify, Chegg, Stitch) vs. Mobile payment names (Paypal, Visa, Square, Mastercard, Fiserv).
IT Services strength being obliterated by Tech focused Consumer Discretionary names..
IBUY
I "Don't Wanna" BUYOnline Retail ETF (IBUY) displaying the workings of a potential bearish RSI divergence.
A break below the 21 day EMA would trigger a sell stop for me..
$IBUY Going to the moon?How far can it go?
Been holding a 13 EMA since Apr 6th.
Currently consolidating at the 61.8 fib level.
Looking to take long if breaks above this level.
PT $77.12
If break below 13 EMA looking for small reversal.
Online RetailCOVID-19 resulted in Online Retail ETFs reaching new all-time highs on a relative & absolute basis.
Online Retail/SPY has been known to move similarly to CD/CS.
We've seen CD/CS break diagonal resistance, but remains below its June 2018 ATH.
EW CD/ EW CS is still heavily lagging and well below its June 2018 high
