After Yesterday's Rally of 1.04% Shares Could Potentially Pullback
Vanguard European ETF (AMEX:VGK) traded in a range yesterday that spanned from a low of $48.95 to a high of $49.16. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $48.65 on volume of 2.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of Vanguard European ETF have traded between a low of $43.47 and a high of $58.51 and are now at $49.13, which is 13% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.2%.
SmarTrend recommended that subscribers consider buying shares of Vanguard European ETF on March 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $46.56. Since that recommendation, shares of Vanguard European ETF have risen 4.4%. We continue to monitor VGK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders amex:vgk vanguard european etf