Home Investing Research Transportation Sector Oversold, Nearing Year End Bounce

Transportation Sector Oversold, Nearing Year End Bounce

Andrew Nyquist
-
0
Transportation Sector Oversold, Nearing Year End Bounce

The Transportation Sector ETF (IYT) has been reeling for the past 4 weeks.

And this decline has wiped out most of 2024’s gains.

That said, IYT is severely oversold and should bounce soon… hopefully it will be enough of a bounce to make bulls feel better about 2024.

Note that the 20-day moving average is turning down so I suspect any rally will be short-lived (or require patience).

Sign up for our FREE newsletter
and receive our best trading ideas and research



Note that the following MarketSurge charts are built with Investors Business Daily’s product suite.

I am an Investors Business Daily (IBD) partner and promote the use of their products. The entire platform offers a good mix of tools, education, and technical and fundamental data.

$IYT Transportation Sector ETF Chart

transportation sector stocks oversold buy signal chart

Twitter: @andrewnyquist

The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

NOT INVESTMENT ADVICE
Previous article Oversold Treasury Bonds Nearing Rally (Elliott wave analysis)
Next article Emerging Markets (EEM) Head Into 2025 On Down Note
Avatar photo
Andrew Nyquist
Andy is the founder of See It Market. He has been actively investing for over 20 years with a strong focus on technical analysis and swing trading. His blogs, articles, and contributions have appeared on numerous websites, including Yahoo! Finance, Investors Business Daily, MarketWatch, Business Insider, and Investing.com to name a few. Andy has also been a guest on Sirius-XM "Behind The Markets" and Fox talk radio, and has been interviewed and cited across several media outlets. In addition to founding and managing See It Market, Andy enjoys actively investing, playing and watching sports, and spending time with friends and family - especially his wife and three children. Andy recently ended a long stint as a Vice President in the financial services industry to focus on See It Market and private trading. He is a 1998 graduate of Carleton College and resides in the Minneapolis area.