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After Yesterday's Rally of 1.30% Shares Could Potentially Pullback

By James Quinn

JPMorgan Alerian MLP Index ETN (NYSE:AMJ) traded in a range yesterday that spanned from a low of $30.05 to a high of $30.52. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $30.47 on volume of 1.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is monitoring the recent change of momentum in JPMorgan Alerian MLP Index ETN . Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of JPMorgan Alerian MLP Index ETN in search of a potential trend change.

Over the past year, JPMorgan Alerian MLP Index ETN has traded in a range of $20.35 to $45.81 and is now at $30.36, 49% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 1.3%.

Keywords: rebounders jpmorgan alerian mlp index etn

Ticker(s): AMJ