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Look for Shares of Market Vectors Junior Gold Miners to Potentially Pullback after Yesterday's 3.75% Rise

By Shiri Gupta

Market Vectors Junior Gold Miners (NASDAQ:GDXJ) traded in a range yesterday that spanned from a low of $39.06 to a high of $40.38. Yesterday, the shares gained 3.7%, which took the trading range above the 3-day high of $40.25 on volume of 5.4 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 is monitoring the recent change of momentum in Market Vectors Junior Gold Miners. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Market Vectors Junior Gold Miners in search of a potential trend change.

Market Vectors Junior Gold Miners share prices have moved between a 52-week high of $52.50 and a 52-week low of $16.87 and are now trading 139% above that low price at $40.35 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.2% while the 200-day MA has risen 1.4%.

Keywords: rebounders market vectors junior gold miners

Ticker(s): GDXJ