Look for Shares of Market Vectors Junior Gold Miners to Potentially Rebound after Yesterday's 3.25% Sell Off
Market Vectors Junior Gold Miners (NASDAQ:GDXJ) traded in a range yesterday that spanned from a low of $49.59 to a high of $50.83. Yesterday, the shares fell 3.3%, which took the trading range below the 3-day low of $50.74 on volume of 5.6 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 Market Vectors Junior Gold Miners on July 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $49.71. Since that recommendation, shares of Market Vectors Junior Gold Miners have risen 3.2%. 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 $52.50 and a 52-week low of $16.87 and are now trading 194% above that low price at $49.65 per share. Over the last five market days, the 200-day moving average (MA) has gone up 1.4% while the 50-day MA has advanced 3.2%.
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