After Yesterday's Rally of 2.01% Shares Could Potentially Pullback
SPDR KBW Regional Banking ETF (AMEX:KRE) traded in a range yesterday that spanned from a low of $42.27 to a high of $43.01. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $42.50 on volume of 2.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SPDR KBW Regional Banking ETF share prices have moved between a 52-week high of $46.33 and a 52-week low of $32.63 and are now trading 32% above that low price at $42.92 per share. 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 Regional Banking ETF on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $40.33. Since that recommendation, shares of SPDR KBW Regional Banking ETF have risen 4.4%. We continue to monitor KRE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders amex:kre spdr kbw regional banking etf