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Look for Shares of Market Vectors - Russia ETF to Potentially Pullback after Yesterday's 1.77% Rise

By Nick Russo

Market Vectors - Russia ETF (NYSE:RSX) traded in a range yesterday that spanned from a low of $17.64 to a high of $18.00. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $17.58 on volume of 4.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Market Vectors - Russia ETF share prices have been bracketed by a low of $11.81 and a high of $20.84 and are now at $17.94, 52% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Market Vectors - Russia ETF on January 28th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $14.07. Since that recommendation, shares of Market Vectors - Russia ETF have risen 24.8%. We continue to monitor RSX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders market vectors - russia etf

Ticker(s): RSX