After Yesterday's Rally of 1.93% Shares Could Potentially Pullback
VelocityShares Daily Inverse VIX ST ETN (NYSE:XIV) traded in a range yesterday that spanned from a low of $38.72 to a high of $39.26. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $38.85 on volume of 6.0 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 tracking the current trend status for VelocityShares Daily Inverse VIX ST ETN and will alert subscribers who have XIV in their portfolio or watchlist when shares have changed trend direction.
Over the past year, VelocityShares Daily Inverse VIX ST ETN has traded in a range of $15.36 to $50.10 and is now at $39.09, 155% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.6% while the 200-day MA has slid 1.5%.
Keywords: rebounders velocityshares daily inverse vix st etn