iShares Russell 2000 Index Fund Bearish Moving Average Crossover Alert (IWM)
iShares Russell 2000 Index Fund (AMEX:IWM) crossed under its 10-day moving average of $122.08 on a volume of 4.0 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, iShares Russell 2000 Index Fund share prices have been bracketed by a low of $93.64 and a high of $129.10 and are now at $121.75, 30% above that low price. The 200-day and 50-day moving averages have moved 0.25% lower and 0.77% higher over the past week, respectively.
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 3.8%. 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