Bullish Moving Average Cross by Rydex S&P Equal Weight ETF (RSP)
Today, shares of Rydex S&P Equal Weight ETF (AMEX:RSP) have crossed bullishly above their 10-day moving average of $84.27 on a volume of 152K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
In the past 52 weeks, shares of Rydex S&P Equal Weight ETF have traded between a low of $43.77 and a high of $84.90 and are now at $84.39, which is 93% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of Rydex S&P Equal Weight ETF on September 17th, 2015 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $77.57. Since that recommendation, shares of Rydex S&P Equal Weight ETF have risen 8.4%. We continue to monitor RSP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses amex:rsp rydex s&p equal weight etf