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After Yesterday's Rally of 2.41% Shares Could Potentially Pullback

By James Quinn

iShares Silver Trust (AMEX:SLV) traded in a range yesterday that spanned from a low of $18.60 to a high of $18.78. Yesterday, the shares gained 2.4%, which took the trading range above the 3-day high of $18.32 on volume of 6.9 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 iShares Silver Trust and will alert subscribers who have SLV in their portfolio or watchlist when shares have changed trend direction.

iShares Silver Trust share prices have moved between a 52-week high of $19.71 and a 52-week low of $13.04 and are now trading 44% above that low price at $18.73 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has risen 0.3%.

Keywords: rebounders amex:slv ishares silver trust

Ticker(s): SLV