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Bearish Moving Average Cross by iShares Dow Jones US Homenstruction Index Fund (ITB)

By David Diaz

Today, shares of iShares Dow Jones US Homenstruction Index Fund (NYSE:ITB) have crossed bearishly below their 10-day moving average of $29.42 on a volume of 1.0 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, iShares Dow Jones US Homenstruction Index Fund has traded in a range of $21.61 to $30.00 and is now at $29.12, 35% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

SmarTrend recommended that subscribers consider buying shares of iShares Dow Jones US Homenstruction Index Fund on July 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $28.33. Since that recommendation, shares of iShares Dow Jones US Homenstruction Index Fund have risen 4.4%. We continue to monitor ITB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses ishares dow jones us homenstruction index fund

Ticker(s): ITB