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iShares Russell 2000 Index Fund Set to Possibly Rebound After Yesterday's Selloff of 2.26%

By Nick Russo

iShares Russell 2000 Index Fund (AMEX:IWM) traded in a range yesterday that spanned from a low of $120.12 to a high of $122.16. Yesterday, the shares fell 2.3%, which took the trading range below the 3-day low of $120.58 on volume of 22.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of iShares Russell 2000 Index Fund on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $117.95. Since that recommendation, shares of iShares Russell 2000 Index Fund have risen 4.2%. We continue to monitor IWM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

iShares Russell 2000 Index Fund share prices have moved between a 52-week high of $129.10 and a 52-week low of $93.64 and are now trading 29% above that low price at $120.37 per share. The 200-day and 50-day moving averages have moved 0.25% lower and 0.77% higher over the past week, respectively.

Keywords: rebounders amex:iwm ishares russell 2000 index fund

Ticker(s): IWM