Look for Shares of Market Vectors - Gold Miners ETF to Potentially Rebound after Yesterday's 2.04% Sell Off
Market Vectors - Gold Miners ETF (AMEX:GDX) traded in a range yesterday that spanned from a low of $26.01 to a high of $26.58. Yesterday, the shares fell 2.0%, which took the trading range below the 3-day low of $26.74 on volume of 20.2 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 Market Vectors - Gold Miners ETF have traded between a low of $12.40 and a high of $31.79 and are now at $26.21, which is 111% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.2% while the 50-day MA has advanced 2.2%.
SmarTrend recommended that its subscribers protect gains by selling shares of Market Vectors - Gold Miners ETF on August 24th, 2016 by issuing a Downtrend alert when the shares were trading at $27.74. Since that call, shares of Market Vectors - Gold Miners ETF have fallen 3.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: rebounders amex:gdx market vectors - gold miners etf