Look for Shares of VelocityShares Daily Inverse VIX ST ETN to Potentially Rebound after Yesterday's 11.68% Sell Off
VelocityShares Daily Inverse VIX ST ETN (NYSE:XIV) traded in a range yesterday that spanned from a low of $31.46 to a high of $34.95. Yesterday, the shares fell 11.7%, which took the trading range below the 3-day low of $33.22 on volume of 29.0 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 VelocityShares Daily Inverse VIX ST ETN on July 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.21. Since that recommendation, shares of VelocityShares Daily Inverse VIX ST ETN have risen 38.2%. We continue to monitor XIV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, shares of VelocityShares Daily Inverse VIX ST ETN have traded between a low of $15.36 and a high of $50.10 and are now at $31.97, which is 108% above that low price. The 200-day and 50-day moving averages have moved 1.49% lower and 2.61% higher over the past week, respectively.
Keywords: rebounders velocityshares daily inverse vix st etn