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After Yesterday's Rally of 1.13% Shares Could Potentially Pullback

By James Quinn

SPDR S&P Homebuilders ETF (AMEX:XHB) traded in a range yesterday that spanned from a low of $37.25 to a high of $37.75. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $37.40 on volume of 648,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SPDR S&P Homebuilders ETF share prices have moved between a 52-week high of $39.22 and a 52-week low of $27.66 and are now trading 36% above that low price at $37.57 per share. The 200-day and 50-day moving averages have moved 0.18% lower and 0.75% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of SPDR S&P Homebuilders ETF on January 25th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.68. Since that recommendation, shares of SPDR S&P Homebuilders ETF have risen 4.5%. We continue to monitor XHB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders amex:xhb spdr s&p homebuilders etf

Ticker(s): XHB