IYT Breakout: The iShares IYT Transportation Average ETF is breaking out of a multimonth bullish pattern, which is significant as it aligns with Dow Theory, indicating a healthy economy when transportation activity is strong.
Chart Analysis: The daily chart shows IYT attempting to break above the 73-level, with a recent breakout suggesting a potential target of 80, which would surpass its previous highs.
Long-term Patterns: A 20-year monthly chart indicates that IYT has formed a series of bullish patterns, with the current breakout potentially leading to new all-time highs, similar to past bullish trends observed in 2012, 2017, and 2020.
UPS as a Key Component: UPS, a major holding in IYT, has been underperforming but could contribute to IYT's upside if it breaks out of its current decline and regains its 40-week moving average.
Wall Street analysts forecast IYT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IYT is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
Wall Street analysts forecast IYT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IYT is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 77.675
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Current: 77.675
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
