With no changes to any of the iShares models this week, we take a look at the iShares Blockchain and Tech ETF (IBLC).
There are no changes to any of the iShares models this week. Technology once again sits at the top of the DALI sector rankings after overtaking communication services earlier this month. Investors looking to add targeted technology exposure may wish to consider the iShares Blockchain and Tech ETF (IBLC). IBLC tracks an index composed of U.S. and non-U.S. companies that are involved in the development, innovation, and utilization of blockchain and crypto technologies (Source: iShares).
IBLC current has a strong 5.52 fund score, which is 0.81 points better than the average for all technology and communications funds, and a positive 3.92 score direction. After giving three consecutive sell signals on its default P&F chart, IBLC found support at $56, just above prior resistance and rallied. The fund returned to a buy signal Tuesday when it completed a bearish signal reversal at $66.
IBLC currently sits just inside actionable territory on its 10-week trading band with a weekly overbought/oversold (OBOS) reading of 61%. Year-to-date (through 10/29) IBLC has gained 84.44% on a price return basis.
