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

By Nick Russo

Today, shares of Market Vectors Junior Gold Miners (NASDAQ:GDXJ) have crossed bearishly below their 10-day moving average of $42.92 on a volume of 1.3 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, Market Vectors Junior Gold Miners has traded in a range of $28.82 to $87.64 and is now at $42.78, 48% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.1%.

SmarTrend recommended that subscribers consider buying shares of Market Vectors Junior Gold Miners on June 12th, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.66. Since that recommendation, shares of Market Vectors Junior Gold Miners have risen 12.6%. 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