There were no changes to the Franklin International Equity Rotation Model this week, so we look at the Franklin Intelligent Machines ETF (IQM).
There were no changes to the Franklin International Equity Rotation Model this week.
While Technology and growth names have slowed to begin the year, certain pockets of the group continue to exhibit high levels of relative strength. Those looking to add additional exposure to the group could look towards the Franklin Intelligent Machines ETF (IQM). It holds an extremely strong fund score of 4.86, which is 1.66 points greater than the average technology and communications fund. Despite a pullback at the end of last year, IQM has since spun off two consecutive buy signals. IQM continues to demonstrate long-term strength, trading in a positive trend going back to May of last year. The fund also holds long-term relative strength versus the market, sitting on an RS buy signal versus the S&P 500 Equal Weight Index (SPXEWI). With consolidation over the last couple months, the fund is trading in actionable territory around the middle of its 10-week trading band. Initial support for the fund also sits closely at $89, continuing until the mid $70s, with the bullish support line at $75.
