Look for Shares of Market Vectors Junior Gold Miners to Potentially Pullback after Yesterday's 3.87% Rise
Market Vectors Junior Gold Miners (NASDAQ:GDXJ) traded in a range yesterday that spanned from a low of $43.55 to a high of $44.48. Yesterday, the shares gained 3.9%, which took the trading range above the 3-day high of $42.70 on volume of 4.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Market Vectors Junior Gold Miners share prices have moved between a 52-week high of $44.48 and a 52-week low of $16.87 and are now trading 162% above that low price at $44.21 per share. Over the past week, the 200-day moving average (MA) has gone up 1.4% while the 50-day MA has advanced 3.2%.
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 15.1%. We continue to monitor GDXJ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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