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Look for Shares of iPATH S&P 500 VIX Short-Term Futures ETN to Potentially Rebound after Yesterday's 3.29% Sell Off

By Shiri Gupta

iPATH S&P 500 VIX Short-Term Futures ETN (NYSE:VXX) traded in a range yesterday that spanned from a low of $12.51 to a high of $12.76. Yesterday, the shares fell 3.3%, which took the trading range below the 3-day low of $12.89 on volume of 31.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of iPATH S&P 500 VIX Short-Term Futures ETN on November 21st, 2016 by issuing a Downtrend alert when the shares were trading at $28.22. Since that call, shares of iPATH S&P 500 VIX Short-Term Futures ETN have fallen 54.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

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 $12.56, which is 35% 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.

Keywords: rebounders ipath s&p 500 vix short-term futures etn

Ticker(s): VXX