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)
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