2017 hasn’t been kind to the Telecommunications Sector and several telecom stocks.

The Telecom Sector ETF (NYSEARCA:IYZ) is down over 15% this year, with the past two weeks providing a thud to the decline.

The carnage in the sector can be seen on the weekly chart for IYZ below.

But there could be a silver lining for opportunistic (and disciplined) traders here… Here’s why:

  • The Telecom ETF is at a cluster of price support (point 1).  This includes a variety of trend lines, including the current underside of the broader bullish channel formed since 2009.
  • Momentum is at its most oversold in the past few years.

Keep this one on your radar.

 

Telecom Sector ETF Weekly Chart

telecom sector iyz stock market etf bottom lows_investing_news_november

 

Twitter:  @KimbleCharting

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 – Please read investment disclaimer.