After Yesterday's Rally of 1.14% Shares Could Potentially Pullback
SPDR KBW Bank ETF (AMEX:KBE) traded in a range yesterday that spanned from a low of $33.16 to a high of $33.86. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $33.62 on volume of 827,000 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 SPDR KBW Bank ETF have traded between a low of $26.28 and a high of $37.28 and are now at $33.83, which is 29% 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 0.9%.
SmarTrend recommended that subscribers consider buying shares of SPDR KBW Bank ETF on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.90. Since that recommendation, shares of SPDR KBW Bank ETF have risen 4.8%. We continue to monitor KBE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders amex:kbe spdr kbw bank etf