Bearish Moving Average Cross by Market Vectors Junior Gold Miners (GDXJ)
Today, shares of Market Vectors Junior Gold Miners (NASDAQ:GDXJ) have crossed bearishly below their 10-day moving average of $23.90 on a volume of 3.2 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.
Market Vectors Junior Gold Miners share prices have moved between a 52-week high of $87.64 and a 52-week low of $20.68 and are now trading 14% above that low price at $23.57 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 1.4%.
SmarTrend recommended that its subscribers protect gains by selling shares of Market Vectors Junior Gold Miners on January 29th, 2015 by issuing a Downtrend alert when the shares were trading at $26.62. Since that call, shares of Market Vectors Junior Gold Miners have fallen 9.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: moving crosses market vectors junior gold miners