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Look for Shares of Market Vectors Junior Gold Miners to Potentially Pullback after Yesterday's 4.88% Rise

By Amy Schwartz

Market Vectors Junior Gold Miners (NASDAQ:GDXJ) traded in a range yesterday that spanned from a low of $41.25 to a high of $43.76. Yesterday, the shares gained 4.9%, which took the trading range above the 3-day high of $40.40 on volume of 8.7 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 recommended that subscribers consider buying shares of Market Vectors Junior Gold Miners on June 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $37.02. Since that recommendation, shares of Market Vectors Junior Gold Miners have risen 7.5%. We continue to monitor GDXJ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Market Vectors Junior Gold Miners share prices have moved between a 52-week high of $43.76 and a 52-week low of $16.87 and are now trading 148% above that low price at $41.83 per share. The 200-day and 50-day moving averages have moved 1.43% higher and 3.17% higher over the past week, respectively.

Keywords: rebounders market vectors junior gold miners

Ticker(s): GDXJ