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Look for Shares of iShares Russell 2000 Index Fund to Potentially Pullback after Yesterday's 1.26% Rise

By Amy Schwartz

iShares Russell 2000 Index Fund (AMEX:IWM) traded in a range yesterday that spanned from a low of $138.74 to a high of $140.94. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $140.11 on volume of 13.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of iShares Russell 2000 Index Fund have traded between a low of $93.64 and a high of $141.82 and are now at $140.94, which is 51% above that low price. The 200-day and 50-day moving averages have moved 0.25% lower and 0.77% higher over the past week, respectively.

SmarTrend is tracking the current trend status for iShares Russell 2000 Index Fund and will alert subscribers who have IWM in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders amex:iwm ishares russell 2000 index fund

Ticker(s): IWM