After Yesterday's Rally of 2.46% Shares Could Potentially Pullback
VelocityShares Daily Inverse VIX ST ETN (NYSE:XIV) traded in a range yesterday that spanned from a low of $38.93 to a high of $39.64. Yesterday, the shares gained 2.5%, which took the trading range above the 3-day high of $38.99 on volume of 9.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
VelocityShares Daily Inverse VIX ST ETN share prices have moved between a 52-week high of $50.10 and a 52-week low of $15.36 and are now trading 157% above that low price at $39.51 per share. Over the past week, the 200-day moving average (MA) has gone down 1.5% while the 50-day MA has advanced 2.6%.
SmarTrend recommended that subscribers consider buying shares of VelocityShares Daily Inverse VIX ST ETN on July 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.21. Since that recommendation, shares of VelocityShares Daily Inverse VIX ST ETN have risen 47.2%. We continue to monitor XIV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders velocityshares daily inverse vix st etn