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Look for Shares of iShares Russell 2000 Index Fund to Potentially Pullback after Yesterday's 2.32% Rise

By David Diaz

iShares Russell 2000 Index Fund (AMEX:IWM) traded in a range yesterday that spanned from a low of $117.71 to a high of $118.64. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $117.00 on volume of 12.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is monitoring the recent change of momentum in iShares Russell 2000 Index Fund. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of iShares Russell 2000 Index Fund in search of a potential trend change.

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 27% above that low price at $118.47 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.8%.

Keywords: rebounders amex:iwm ishares russell 2000 index fund

Ticker(s): IWM