iPATH S&P 500 VIX Short-Term Futures ETN Set to Possibly Pullback After Yesterday's Rally of 4.30%
iPATH S&P 500 VIX Short-Term Futures ETN (NYSE:VXX) traded in a range yesterday that spanned from a low of $15.80 to a high of $16.47. Yesterday, the shares gained 4.3%, which took the trading range above the 3-day high of $15.93 on volume of 52.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
iPATH S&P 500 VIX Short-Term Futures ETN share prices have moved between a 52-week high of $31.48 and a 52-week low of $14.64 and are now trading 11% above that low price at $16.18 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 3.5%.
SmarTrend recommended that its subscribers protect gains by selling shares of iPATH S&P 500 VIX Short-Term Futures ETN on February 22nd, 2016 by issuing a Downtrend alert when the shares were trading at $24.37. Since that call, shares of iPATH S&P 500 VIX Short-Term Futures ETN have fallen 36.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: rebounders ipath s&p 500 vix short-term futures etn