Look for Shares of SPDR KBW Regional Banking ETF to Potentially Rebound after Yesterday's 1.47% Sell Off
SPDR KBW Regional Banking ETF (AMEX:KRE) traded in a range yesterday that spanned from a low of $39.26 to a high of $40.21. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $39.93 on volume of 3.6 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 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 8.8%. We continue to monitor KRE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Over the past year, SPDR KBW Regional Banking ETF has traded in a range of $32.63 to $46.33 and is now at $39.32, 21% above that low. The 200-day and 50-day moving averages have moved 0.26% lower and 0.92% higher over the past week, respectively.
Keywords: rebounders amex:kre spdr kbw regional banking etf