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After Yesterday's Rally of 1.88% Shares Could Potentially Pullback

By Nick Russo

Market Vectors Junior Gold Miners (NASDAQ:GDXJ) traded in a range yesterday that spanned from a low of $31.50 to a high of $32.02. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $31.79 on volume of 5.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Market Vectors Junior Gold Miners share prices have moved between a 52-week high of $52.50 and a 52-week low of $16.87 and are now trading 89% above that low price at $31.84 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.2% while the 200-day MA has risen 1.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Market Vectors Junior Gold Miners on April 25th, 2017 by issuing a Downtrend alert when the shares were trading at $32.40. Since that call, shares of Market Vectors Junior Gold Miners have fallen 3.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders market vectors junior gold miners

Ticker(s): GDXJ