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Market Vectors - Gold Miners ETF Rises 3.74% on Heavy Volume: Watch For Potential Pullback

By Amy Schwartz

Market Vectors - Gold Miners ETF (AMEX:GDX) traded in a range yesterday that spanned from a low of $23.42 to a high of $24.40. Yesterday, the shares gained 3.7%, which took the trading range above the 3-day high of $23.31 on volume of 31.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Market Vectors - Gold Miners ETF on February 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $14.89. Since that recommendation, shares of Market Vectors - Gold Miners ETF have risen 56.1%. We continue to monitor GDX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Market Vectors - Gold Miners ETF share prices have moved between a 52-week high of $24.40 and a 52-week low of $12.40 and are now trading 94% above that low price at $24.11 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has risen 0.6%.

Keywords: rebounders amex:gdx market vectors - gold miners etf

Ticker(s): GDX