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Bearish Moving Average Cross by Market Vectors Junior Gold Miners (GDXJ)

By Nick Russo

Market Vectors Junior Gold Miners (NASDAQ:GDXJ) crossed under its 10-day moving average of $40.12 on a volume of 2.8 million 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.

In the past 52 weeks, Market Vectors Junior Gold Miners share prices have been bracketed by a low of $16.87 and a high of $42.32 and are now at $39.77, 136% above that low price. The 200-day and 50-day moving averages have moved 1.43% higher and 3.17% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Market Vectors Junior Gold Miners on June 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $37.02. Since that recommendation, shares of Market Vectors Junior Gold Miners have risen 10.0%. We continue to monitor GDXJ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses market vectors junior gold miners

Ticker(s): GDXJ