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Look for Shares of Semiconductor HOLDRs Trust to Potentially Pullback after Yesterday's 1.27% Rise

By Shiri Gupta

Semiconductor HOLDRs Trust (AMEX:SMH) traded in a range yesterday that spanned from a low of $62.59 to a high of $63.34. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $62.32 on volume of 2.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Semiconductor HOLDRs Trust share prices have moved between a 52-week high of $63.34 and a 52-week low of $43.53 and are now trading 45% above that low price at $62.99 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

SmarTrend recommended that subscribers consider buying shares of Semiconductor HOLDRs Trust on June 30th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $56.72. Since that recommendation, shares of Semiconductor HOLDRs Trust have risen 9.8%. We continue to monitor SMH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders amex:smh semiconductor holdrs trust

Ticker(s): SMH