After Yesterday's Rally of 3.78% Shares Could Potentially Pullback
iShares Silver Trust (AMEX:SLV) traded in a range yesterday that spanned from a low of $16.13 to a high of $16.26. Yesterday, the shares gained 3.8%, which took the trading range above the 3-day high of $15.68 on volume of 7.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
iShares Silver Trust share prices have moved between a 52-week high of $17.09 and a 52-week low of $13.04 and are now trading 24% above that low price at $16.21 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.1%.
SmarTrend is monitoring the recent change of momentum in iShares Silver Trust. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of iShares Silver Trust in search of a potential trend change.
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