After Yesterday's Rally of 1.29% Shares Could Potentially Pullback
iShares Russell 2000 Value Index Fund (AMEX:IWN) traded in a range yesterday that spanned from a low of $104.11 to a high of $105.15. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $105.04 on volume of 613,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
iShares Russell 2000 Value Index Fund share prices have moved between a 52-week high of $105.94 and a 52-week low of $78.56 and are now trading 33% above that low price at $104.85 per share. The 200-day and 50-day moving averages have moved 0.14% lower and 0.84% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of iShares Russell 2000 Value Index Fund on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $99.19. Since that recommendation, shares of iShares Russell 2000 Value Index Fund have risen 4.3%. We continue to monitor IWN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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