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Look for Shares of SPDR KBW Regional Banking ETF to Potentially Rebound after Yesterday's 1.62% Sell Off

By Nick Russo

SPDR KBW Regional Banking ETF (AMEX:KRE) traded in a range yesterday that spanned from a low of $40.73 to a high of $41.36. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $41.20 on volume of 4.8 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 SPDR KBW Regional Banking ETF on March 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.80. Since that recommendation, shares of SPDR KBW Regional Banking ETF have risen 13.2%. We continue to monitor KRE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

SPDR KBW Regional Banking ETF share prices have moved between a 52-week high of $46.33 and a 52-week low of $32.63 and are now trading 26% above that low price at $40.96 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.9%.

Keywords: rebounders amex:kre spdr kbw regional banking etf

Ticker(s): KRE