With no changes to any of the iShares models this week, we look at the iShares US Oil Equipment & Services ETF (IEZ).
There are no changes to any of the iShares models this week. While it has cooled a bit recently, energy remains an overweight in the DALI sector rankings, where it ranks second, with a 50+ buy signal lead over third place industrials. Investors looking to add energy exposure should consider the iShares US Oil Equipment & Services ETF (IEZ).
IEZ currently has a strong 4.77 fund score, which is 0.87 points better than the average for all energy & natural resource funds. On its default chart, IEZ has given six consecutive buy signals most recently completing a bullish catapult in mid-May, which marked a new multi-year high for the fund. IEZ has subsequently pulled back to support at $30, just below the middle of its trading band, offering an entry point for long exposure; beyond the support at $30, additional support is afforded at $28.50. Year-to-date (through 6/10), IEZ has gained 45.29% on a price return basis; the fund also carries a 1.2% yield.
