Look for Shares of iShares Russell 2000 Index Fund to Potentially Rebound after Yesterday's 2.26% Sell Off
iShares Russell 2000 Index Fund (AMEX:IWM) traded in a range yesterday that spanned from a low of $120.12 to a high of $122.16. Yesterday, the shares fell 2.3%, which took the trading range below the 3-day low of $120.58 on volume of 22.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
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 4.2%. We continue to monitor IWM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, iShares Russell 2000 Index Fund share prices have been bracketed by a low of $93.64 and a high of $129.10 and are now at $120.37, 29% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.8%.
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