Bearish Moving Average Cross by iShares Russell 2000 Index Fund (IWM)
iShares Russell 2000 Index Fund (AMEX:IWM) crossed under its 10-day moving average of $123.87 on a volume of 5.3 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
iShares Russell 2000 Index Fund share prices have moved between a 52-week high of $129.10 and a 52-week low of $93.64 and are now trading 32% above that low price at $123.39 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.8%.
SmarTrend recommended that subscribers consider buying shares of iShares Russell 2000 Index Fund on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $117.95. Since that recommendation, shares of iShares Russell 2000 Index Fund have risen 5.3%. We continue to monitor IWM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses amex:iwm ishares russell 2000 index fund