$IWM Analysis, Key Levels & Targets for 10.23.24
IWM is currently sitting just above the 30-minute 200 moving average and right above the bottom of the implied move for the week. With that being said, The implied move for tomorrow is between 219 and 224, based on options. The 30-day average volatility is almost aligned with this, giving a range of 218 to 224. On Thursday’s contract, the implied move is slightly wider, from 218 to 225.
To the upside, we have a down gap from today, paired with the 35 EMA, which could offer resistance tomorrow. If we manage to break through those levels, the next target would be the top of the implied move at 224. Above that, 225 is the top of the implied move for Thursday’s contract.
Below us, we have the 30-minute 200 moving average, which we bounced off of today, though it wasn’t a strong bounce—just a small technical move. We could test that level again tomorrow. Below that, we have the one-hour 200 moving average. Keep in mind that we’re in oversold territory, sitting outside the implied move for the week, so the combination of the 30-minute 200 moving average and the one-hour 200 moving average could offer support and keep us within range for the week. However, if we break those two levels tomorrow, the bottom of the implied move is 219, with 218 as the bottom for Thursday’s contract. The 50-day moving average is further below, but that would be our next true support level.
To the upside, we have a down gap from today, paired with the 35 EMA, which could offer resistance tomorrow. If we manage to break through those levels, the next target would be the top of the implied move at 224. Above that, 225 is the top of the implied move for Thursday’s contract.
Below us, we have the 30-minute 200 moving average, which we bounced off of today, though it wasn’t a strong bounce—just a small technical move. We could test that level again tomorrow. Below that, we have the one-hour 200 moving average. Keep in mind that we’re in oversold territory, sitting outside the implied move for the week, so the combination of the 30-minute 200 moving average and the one-hour 200 moving average could offer support and keep us within range for the week. However, if we break those two levels tomorrow, the bottom of the implied move is 219, with 218 as the bottom for Thursday’s contract. The 50-day moving average is further below, but that would be our next true support level.
บันทึกช่วยจำ
IWM did close within the implies move yesterday. What a good girl. LOL. I love the way IWM trades
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