After Yesterday's Rally of 1.08% Shares Could Potentially Pullback
iShares Dow Jones US Financial Sector Index Fund (NYSE:IYF) traded in a range yesterday that spanned from a low of $90.71 to a high of $91.66. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $91.26 on volume of 182,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
iShares Dow Jones US Financial Sector Index Fund share prices have moved between a 52-week high of $94.18 and a 52-week low of $73.35 and are now trading 25% above that low price at $91.60 per share. The 200-day and 50-day moving averages have moved 0.15% lower and 0.76% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of iShares Dow Jones US Financial Sector Index Fund on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $87.58. Since that recommendation, shares of iShares Dow Jones US Financial Sector Index Fund have risen 3.4%. We continue to monitor IYF for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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