IWM: A bounce from the lower Bollinger Band
$iShares Russell 2000 ETF(IWM)$ : A bounce from the lower Bollinger Band, combined with a curling Stochastic in oversold territory, suggests continued upward momentum.
The piercing setup, (previously explained in the post for $NVIDIA(NVDA)$ ), further supports this. A move towards the 20DMA is anticipated, but watch for potential rejection at that level.
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Meanwhile, $VanEck Semiconductor ETF(SMH)$ This week will determine the bounce's validity.
While the Stochastic oscillator appears favorable, the previous bullish crossover failed. Although the recent green candle shows decent volume, a sustained move above $236.8 is required to negate further downside risk.
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