Look for Shares of iPATH S&P 500 VIX Short-Term Futures ETN to Potentially Rebound after Yesterday's 3.03% Sell Off
iPATH S&P 500 VIX Short-Term Futures ETN (NYSE:VXX) traded in a range yesterday that spanned from a low of $36.77 to a high of $38.01. Yesterday, the shares fell 3.0%, which took the trading range below the 3-day low of $38.65 on volume of 20.8 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 iPATH S&P 500 VIX Short-Term Futures ETN have traded between a low of $9.30 and a high of $42.41 and are now at $37.87, which is 307% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.5% while the 200-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of iPATH S&P 500 VIX Short-Term Futures ETN on August 9th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.54. Since that recommendation, shares of iPATH S&P 500 VIX Short-Term Futures ETN have risen 6.5%. We continue to monitor VXX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders ipath s&p 500 vix short-term futures etn