Background
IGV is an expanded tech/software ETF. While software has been selling off and AI hardware names have been rallying, the chart suggests momentum may be shifting back toward software.
Why IGV
I like IGV because it provides broad exposure to many of the leading software names in one instrument.
Top 10 holdings (by weight)
•
ORCL
•
MSFT
•
PLTR
•
CRM
•
PANW
•
APP
•
CRWD
•
INTU
•
ADBE
•
SNPS
Trade plan
• Initial entry: Established a half-size position on April 16th after a close above the 50-day moving average (DMA) and the 21-day exponential moving average (EMA).
• Pullback thesis: IGV checked back to the 50 DMA yesterday; I expect that level to hold as support.
• Add trigger: Add to the position if/when it closes above yesterday’s high of $85.57.
• Stop/invalidations: Stop on a decisive close below the horizontal double-bottom level. A close below that line voids the setup.
Key levels to watch
There is additional resistance at the down-sloping downtrend line. If IGV can reclaim that level and hold above it, I plan to build the position (potentially to an oversized allocation), as the prior selloff in software appears overdone. That said, the setup still needs confirmation.
If you like this idea, make it your own and follow your trading/investing rules.
IGV is an expanded tech/software ETF. While software has been selling off and AI hardware names have been rallying, the chart suggests momentum may be shifting back toward software.
Why IGV
I like IGV because it provides broad exposure to many of the leading software names in one instrument.
Top 10 holdings (by weight)
•
ORCL•
MSFT•
PLTR•
CRM•
PANW•
APP•
CRWD•
INTU•
ADBE•
SNPSTrade plan
• Initial entry: Established a half-size position on April 16th after a close above the 50-day moving average (DMA) and the 21-day exponential moving average (EMA).
• Pullback thesis: IGV checked back to the 50 DMA yesterday; I expect that level to hold as support.
• Add trigger: Add to the position if/when it closes above yesterday’s high of $85.57.
• Stop/invalidations: Stop on a decisive close below the horizontal double-bottom level. A close below that line voids the setup.
Key levels to watch
There is additional resistance at the down-sloping downtrend line. If IGV can reclaim that level and hold above it, I plan to build the position (potentially to an oversized allocation), as the prior selloff in software appears overdone. That said, the setup still needs confirmation.
If you like this idea, make it your own and follow your trading/investing rules.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
I am under no obligation to post any action or update to any idea.
Follow me on "X" where I post more content.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.