Beaten Up Internet Stocks Could Soon Recover

There’s been an assumed rotation out of some of the best performing internet stocks of 2017, seeing several decline by double digits over the past two weeks. And it is this selling that has given some traders a reason to pause.

However, looking at the index of Internet stocks, the up-trend still appears to be intact. The Dow Jones Internet ETF ($FDN) has found continued support at its 50-day Moving Average throughout 2017. And, low and behold, this is where we currently find the ETF as of Tuesday, with traders stepping in to buy shares intraday as the 50-day MA is tested.

Read the rest here: Beaten Up Internet Stocks Could Soon Recover (See It Market)

Disclaimer: Do not construe anything written in this post or this blog in its entirety as a recommendation, research, or an offer to buy or sell any securities. Everything in this post is meant for educational and entertainment purposes only. I or my affiliates may hold positions in securities mentioned in the blog. Please see my Disclosure page for full disclaimer. Connect with Andrew on Google+, Twitter, and StockTwits.

About Andrew Thrasher, CMT

Andrew Thrasher, CMT is a Portfolio Manager for an asset management firm in Central Indiana. He specializes and writes about technical analysis as well as macro economic developments.