iShares Russell 2000 Index Fund Set to Possibly Rebound After Yesterday's Selloff of 1.06%
iShares Russell 2000 Index Fund (AMEX:IWM) traded in a range yesterday that spanned from a low of $122.23 to a high of $124.32. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $122.65 on volume of 13.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
In the past 52 weeks, shares of iShares Russell 2000 Index Fund have traded between a low of $93.64 and a high of $129.10 and are now at $122.51, which is 31% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.8%.
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 5.0%. We continue to monitor IWM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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