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Bearish Moving Average Cross by iShares Russell 1000 Value Index (IWD)

By James Quinn

Today, shares of iShares Russell 1000 Value Index (AMEX:IWD) have fallen below their 10-day MA of $116.50 on a volume of 476K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, iShares Russell 1000 Value Index has traded in a range of $86.15 to $118.74 and is now at $116.39, 35% above that low. The 200-day and 50-day moving averages have moved 0.07% lower and 0.65% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of iShares Russell 1000 Value Index on November 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $107.13. Since that recommendation, shares of iShares Russell 1000 Value Index have risen 8.9%. We continue to monitor IWD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses amex:iwd ishares russell 1000 value index

Ticker(s): IWD